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Oil & Gas

Neptune prepares for well on Yakoot gas prospect offshore Egypt

Posted: March 11, 2023 at 11:50 am   /   by   /   comments (0)

Neptune Energy provides offshore Egypt and Indonesia project updates in its full-year 2022 report.

Neptune Energy expects to drill its first operated well this summer in Egypt’s North West El Amal concession in the southern Gulf of Suez.

The well, targeting the Yakoot structural trap in shallow water, follows the acquisition of 3D seismic in 2020. Other leads and prospects have been identified in the license, providing further upside potential.

Offshore Indonesia, the company will participate in the deepwater Geng North exploration well in the North Ganal license in mid-2023, targeting a large multi-Tcf gas prospect. Eni operates the concession, which is in the Kutei Basin offshore East Kalimantan.

If successful, there is potential for a standalone development. The prospect is said to be de-risked by amplitude anomalies showing good conformance to structure and consistent with gas-bearing sand, with further upside potential in other prospects in the surrounding area.

Both the Maha and Merakes East gas fields are set to be tied back to the Jangkrik FPU, with first gas expected at Merakes East in 2025. Eni aims to submit a development plan for the Maha project before mid-year, subject to finalization of the unitization agreement, with geotechnical studies and FEED to follow later in 2023. Maha should start producing in 2026.

However, a planned booster compression project at Jangkrik has been deferred.

(Source: Offshore Magazine)