The NEA and NI concessions are both 100% owned by Energean and whilst operated through separate 50/50 JV companies they both fall under the overall management of Abu Qir Petroleum.
NEA contains two discovered and appraised gas fields (Yazzi and Python). NI – which is split into northern 21 and southern areas – contains four discovered gas fields, one of which is readied for development. Both areas contain additional mapped but undrilled prospects.
An initial development of two of the discovered gas fields in the NEA/NI area (Yazzi and Python) is planned. These fields will be developed as satellite fields to the Abu Qir gas-condensate offshore and onshore infrastructure. The combined development concept includes three subsea wells, to be drilled in water depths ranging from 30 to 85 metres, and tied back to the North Abu Qir III platform. A fourth well will be required to develop the NI-1 discovery. The infrastructure will be installed alongside the NEA development to allow the NI-1 well to be hooked up either in parallel with NEA or afterwards.
A final investment decision has been made in early 2021 with first gas expected in 2H 2022
Fields information and history
Two fields have been evaluated in the North El Amriya PSC: Python and Yazzi. The PSC expires on December 31, 2039. Reserves were projected to the end of the license or to an economic limit, whichever occurs first. The Python field is scheduled to be developed in conjunction with the previously discussed Yazzi field. The Python field was discovered in 2011. The field will produce gas and condensate from the Kafr El Sheikh Formation. Estimates of reserves for the field were based on volumetric analysis.
The terms of the North Idku PSC expire on December 31, 2039. Field A was discovered in 1999 and is expected to produce gas from the Kafr El Sheikh Formation.