Energean‘s plans to increase natural gas production from its Mediterranean fields were discussed in Cairo on Monday (December 13th) by Egyptian Oil and Mineral Resources Minister Tarek El Molla and Energean Group CEO Mathios Rigas.
During the meeting, Energean‘s plan to connect the North Idku and North El Amriya gas fields with existing production facilities in Abu Qir, in the offshore area of Alexandria, was discussed.
Meeting of the CEO of the Energean group Mathios Rigas with the Minister of Oil and Mineral Resources Tarek El Molla
Mr. El Molla stressed the importance of continuous cooperation and coordination between the Ministry and the international companies that have production in the country in order to accelerate the implementation of new investments, with the aim of increasing stocks and production in Egypt. It is noted that Egypt is one of the largest producers and exporters of natural gas in the Mediterranean, producing about 200 million cubic meters per day and exporting about 45 million cubic meters of natural gas per day.
“Energean is one of our international partners who have invested in Egypt in recent years, following the acquisition of the Edison E&P portfolio,” said Egypt’s Minister of Petroleum and Mineral Resources. Mr. El Molla added that the company has great potential and seeks to maximize the development of natural gas deposits in the Mediterranean, an area which is the center of its activity.
For his part, Mr. Rigas confirmed that Energean has launched new investments in the development of natural gas fields in the Mediterranean, adding that the company plans to use new technologies for the exploration and production of hydrocarbons from deeper layers.
It is noted that in the first 9 months of 2021, Energean production from the Abu Qir fields was of the order of 4.3 million cubic meters of natural gas and 4,000 barrels of oil per day (a total of 30,000 barrels of oil equivalent) per day. Production from the North Idku and North El Amriya fields is expected to begin in the second half of 2022 and is estimated to yield about 2.2 million cubic meters of gas and about 2,000 barrels of oil (a total of 15,000 barrels of oil equivalent) per day.
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