Yazzi and Python

Location and Ownership

• The Yazzi and Python fields are located within the North El Amriya (NEA) concession in Egypt.
• Both fields are 100% owned by Energean and are operated through a 50/50 joint venture company, but fall under the overall management of Abu Qir Petroleum.

Geology and Reserves

• The fields are part of the NEA concession, which contains two discovered and appraised gas fields: Yazzi and Python.
• The reserves for these fields are estimated based on volumetric analysis. The Python field, discovered in 2011, is expected to produce gas and condensate from the Kafr El Sheikh Formation.

Development Plan

• The development of the Yazzi and Python fields involves integrating them into the existing Abu Qir gas-condensate offshore and onshore infrastructure.
• The combined development concept includes drilling three subsea wells in water depths ranging from 30 to 85 meters, which will be tied back to the North Abu Qir III platform. An additional well will be required for the development of the NI-1 discovery, which can be hooked up either in parallel with the NEA development or afterwards.

Production and Timeline

• A final investment decision for the NEA and NI fields was made in early 2021, with first gas expected in the second half of 2022.
• As of 2023, the twin licenses of NEA/NI have been brought online, significantly enhancing production and replacing reserves produced at the Abu Qir field.

Licensing and Expiry

• The Production Sharing Contract (PSC) for the North El Amriya concession, which includes the Yazzi and Python fields, expires on December 31, 2039.

Operational Highlights

• The development of these fields is part of Energean's broader strategy to enhance production and reserves in Egypt. The successful start-up of these fields has contributed to a significant increase in Energean's overall production, particularly in 2023.

In summary, the Yazzi and Python fields are crucial components of Energean's Egyptian portfolio, contributing to the company's growth in gas and condensate production, and are integrated into the existing infrastructure to optimize operations and resource utilization.