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Egypt: Energean and EGPC JV partners award NEA/NI iEPCI contract to TechnipFMC

Egypt: Energean and EGPC JV partners award NEA/NI iEPCI contract to TechnipFMC
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- Energean announces NEA/NI Final

- Energean announces NEA/NI Final
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Final investment decision made for (NEA/NI) subsea tieback project, Egypt

Energean agrees Egypt subsea project

Energean, a London-based independent E&P company, said that that Final Investment Decision has been taken on the North El Amriya and North Idku (NEA/NI) concession subsea tieback project in offshore Egypt.

Egypt: Energean announces NEA/NI Final Investment Decision

Egypt: Energean announces NEA/NI Final Investment Decision 21 Jan 2021 North El Amriya and North Idku ( NEA/NI ) concession subsea tieback project offshore Egypt. The NEA concession contains Yazzi and Python) while the NI concession contains four discovered gas fields, one of which is readied for development. NEA/NI is due to deliver first gas in 2H 2022 with 49 million boe of 2P reserves, 87% of which is gas and peak production is expected to be approx. 90 mmscf/d plus 1 kbopd of condensates. Map of NEA/NI Concession (Source: Energean) The NEA/NI project is a key one for the Egyptian portfolio which will provide substantial benefits to the long-term production profile in the country, whilst bringing additional cost efficiencies and strategic benefits. When Brent prices are above $40/bbl, gas will be sold at $4.6/mmBTU, which is the highest achieved to date for shallow water gas production, offshore Egypt.

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