Energean plc,the gas producer focused on the Mediterranean, is pleased to announce that AbuQir Petroleum, a Joint Venture between Energean and EGPC, has signed an integrated EPCI iEPCI™ contract to global offshore services provider TechnipFMC (Paris: FTI) (NYSE: FTI) for a subsea tie-back located offshore Egypt. The contract covers the Engineering, Procurement, Construction, and Installation of four subsea wells as well as the subsea tie-back to the existing AbuQir Petroleum infrastructure and processing plant.

The development wells will be drilled in a water depth between 60 and 90 meters. Three of them will be located in North El Amriya (NEA) concession, operated by Petroamriya JV between Energean and EGAS, and one in North Idku (NI), the concession operated by Nipetco JV between Energean and EGPC. The NEA concession contains two discovered and appraised gas fields (Yazzi and Python) while the NI concession contains four discovered gas fields, one of which is ready for development. The integrated project 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 approximately 90 MMscf/d plus 1 kbbl/d of condensates.

Nicolas Katcharov, Energean’s Country Manager in Egypt, commented:
“We are glad that we have signed the iEPCI™ contract for the NEA/NI development with TechnipFMC. The project initiates a significant development with an innovative integrated approach, providing substantial benefits to the long-term production profile in the country whilst bringing additional cost efficiencies and strategic benefits. It is also opening a new perspective for the near-field exploration in the Egypt Nile Delta offshore. I would like to thank the Ministry of Petroleum and Mineral Resources of Egypt, our partners EGPC, EGAS and all involved parties for their important contribution to this milestone, and take this as an occasion to reiterate Energean’s commitment to further exploring and exploiting Egypt’s natural resource potential”.

Jonathan Landes, President Subsea at TechnipFMC, commented:
“We are proud and honored to be selected for this important development offshore Egypt. This project award showcases TechnipFMC’s position as the market and technology leader for integrated projects globally and demonstrates the benefits of our iEPCI™ solution for subsea developments. We will continue our long-term, collaborative relationship with Energean and are pleased to work again with EGPC and EGAS for the development of gas production in Egypt.”

About Energean Oil & Gas plc

Energean (LSE: ENOG, TASE: אנאג ) is a London Premium Listed FTSE 250 and Tel Aviv Listed E&P company with operations offshore Israel, Greece and the Adriatic. In August 2017 the Company received Israeli Governmental approval for the FDP for its flagship Karish-Tanin gas development project, where it intends to use the only FPSO in the Eastern Mediterranean to produce first gas in 2021. Energean has already signed firm contracts for 5.0 Bcm/yr of gas sales into the Israeli domestic market. Future gas sales agreements will focus on both the growing Israeli domestic market and key export markets in the region.
Energean has nine exploration licences offshore Israel, and a 25-year exploitation licence for the Katakolo offshore block in Western Greece and additional exploration potential in its other licences in Western Greece and Montenegro.

About TechnipFMC

TechnipFMC is a global leader in subsea, onshore/offshore, and surface projects. With our proprietary technologies and production systems, integrated expertise, and comprehensive solutions, we are transforming our clients' project economics.
We are uniquely positioned to deliver greater efficiency across project lifecycles from concept to project delivery and beyond. Through innovative technologies and improved efficiencies, our offering unlocks new possibilities for our clients in developing their oil and gas resources.
Each of our 44,000 employees is driven by a steady commitment to clients and a culture of purposeful innovation, challenging industry conventions, and rethinking how the best results are achieved.