North Abu Qir PIII

North Abu Qir PIII Oil and Gas Field Profile

Location

The North Abu Qir PIII Oil and Gas Field is located offshore in Egypt, specifically within the Abu Qir concession in the Mediterranean Sea. The coordinates for the field are approximately 31.4783, 30.1893 (WGS 84).

Operator and Ownership

The field is operated by Abu Qir Petroleum Company, and it is fully owned by Energean.

Project Details

• Status: The North Abu Qir PIII Oil and Gas Field is currently operating.
• Production Start Year: Production began in 2017.

Reserves

• Gas Reserves: The field has estimated gas reserves of 14,158.29 million cubic meters as of 2016.
• Oil Reserves: The field has estimated oil reserves of 20 million barrels as of 2016.

Production and Infrastructure

• The field is part of a larger gas-producing hub in the Abu Qir Bay area, which includes the Abu Qir, North Abu Qir, and West Abu Qir fields.
• The production from this field, along with other nearby fields, is tied back to the North Abu Qir PIII Platform and a processing plant.

Associated Developments

• The North El Amriya and North Idku (NEA/NI) Development, another project in the area, involves subsea tiebacks to the North Abu Qir PIII Platform. This development includes several gas fields discovered in the NEA and NI concessions, which are also fully owned by Energean. The NEA/NI project achieved first gas in March 2023 and is expected to contribute significantly to Egypt's energy needs.

Technical Details

• Water Depth: The field is located in shallow water, with the NEA/NI development wells drilled in water depths ranging from 30 to 85 meters.
• Geology: The gas and condensate in the nearby NEA and NI fields are found in the BKES and Abu Madi formations.

Contractors and Contracts

• For the NEA/NI Development, UK-based TechnipFMC secured an integrated Engineering Procurement Construction and Installation (iEPCI) contract in February 2021. The contract included the design, development, delivery, and installation of subsea equipment.

Production Outlook

• The Abu Qir Development Lease, which includes the North Abu Qir PIII field, has recovered 86.42% of its total recoverable reserves as of recent data. Peak production was achieved in 2017, and production is expected to continue until the field reaches its economic limit in 2033.

Economic and Strategic Impact

• The production from the North Abu Qir PIII field and associated developments is crucial for meeting Egypt's growing energy needs and improving the long-term production profile of Energean in the country.

Contract Expirations

• The production sharing contract (PSC) for the Abu Qir concession expires on January 31, 2033, while the PSCs for the NEA and NI concessions expire on December 31, 2039.