Minister of Petroleum and Mineral Resources Karim Badawi met with Nicholas Katcharov, CEO and Chairman of the Board of Directors of Energean International E&P SpA and Country Manager of Energean Egypt, to discuss the developments of the company’s activities in Egypt related to natural gas exploration and production in several regions of the Mediterranean.

The meeting discussed work on gas development and production in the offshore areas of Abu Qir, North of Idku and North of Amriya, as well as in the East Bir El Nus area for natural gas exploration and exploration.

The company said the NAQ-PII#EAST exploration well is currently being completed after two layers of gas and oil were discovered and is expected to produce approximately 15 million cubic feet per day of gas and condensates.

The well will be added to the production map by mid-August. In addition, the Company has followed up on the NAQ-PII#6 well and re-completed the NAQ-PII#2 well.

Current production in the Abu Qir fields area is approximately 65 million cubic feet of gas per day (mcf/d) and 1,250 barrels of condensate per day (bbl/d) after four new wells were drilled, connected to offshore production facilities and brought online at full capacity late last year.

The meeting also discussed efforts to conduct a study to increase production in the North Abu Qir field by constructing a new three-kilometer-long submarine pipeline between the two jetties NAQ PIII and NAQ PII at a capital cost of between US$10 million and US$12 million.

Investigations are also currently underway into the deep layers of the Abu Qir deep field concessions, north of Idku and north of Amriya, which show promising layers.