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A British company may date an oil discovery in Egypt in July

An oil discovery is expected to be announced in Egypt next July (2023) by a specialist British company in the concession area northwest of Al-Amal south of the Gulf of Suez.

British independent oil and gas company Neptune Energy has updated its drilling schedule in several countries; Those include Egypt, Indonesia and the North Sea, the magazine said Offshore Magazine (Offshore Magazine) May 12 (2023).

Egypt’s latest oil discovery, the Yakut field, is expected to have the potential for rapid growth, according to a report seen by the Special Energy Platform.

Neptune expects to drill the Yakut exploration platform in the Gulf of Suez early in the third quarter of the year, as it will be the company’s first operation in the northwest Al-Amal concession after obtaining an advanced three-dimensional. Year (2020) Seismic device.

Future actions of Neptune

In its latest results release, Neptune Energy expects the Gudrun field electrification project in the Norwegian North Sea to start in the fourth quarter.

Neptune engineer on site. Photo courtesy of Energy Voices

The platform, operated by Statoil Electric, will meet from shore via a connecting line with facilities serving fields in the Utsera High area.

Later this year, Neptune plans to drill at Mulder and Ceresa and evaluate last year’s Ophelia discovery in the North Sea (off the coast of Norway).

The company will soon begin another subsea campaign involving well tie-in and commissioning in developing the Seagull project in the UK’s Central North Sea, according to information discovered by a specialist energy platform.

Elsewhere, major construction activities related to the inversion of the ETAP host complex have been completed and production will flow from two wells in July.

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Development projects

The UK government is expected to publish the results of its latest licensing round soon, for Neptune Energy, carbon dioxide and storage.

Last month, drilling began on the Rhone appraisal well, a gas discovery on the L7 license in the Dutch North Sea, with the aim of reducing uncertainty about blocks and proving the reservoir’s productivity before a development decision.

According to the paper, explorers expect another well at the Mabel site to follow the Rhone well Offshore Magazine (Offshore Magazine).

Next June, a multi-well closure plan is set to begin, including the closure and protection of at least 21 wells in Dutch and UK waters.

In Indonesia, Neptune Energy expects Italian giant Eni to present a development plan for the Maha offshore project in the current quarter, pending the completion of a merger agreement.

Subsequently, geotechnical investigations, design works and feasibility studies will take place in the second half of 2023, with first gas expected from Maha in 2026.

In the third quarter, the partners expect to begin drilling the Jing North deepwater exploratory well in the North Channel license, targeting significant gas prospects with trillions of cubic feet of independent development potential.

Neptune energy in Egypt

In 2019, the Egyptian General Petroleum Corporation awarded an oil exploration license to Neptune in block 4 of the northwestern Al Amal concession in the middle of the Gulf of Suez.

It was announced at the time that the first phase of the concession development was to carry out 3D seismic surveys of 100 square kilometers and drill an exploratory well.

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Website for Neptune Energy
Neptune website. Photo courtesy of The Times

Following the acquisition of Engie Group in February 2018, the second concession development phase focuses on the drilling of two exploratory wells by Neptune Energy, following the British company’s guidance during its expansion in the North Sea and Asia next to North Africa. Website to the company.

In February 2020, the company signed an agreement with Cairo to invest $35 million – plus an additional $11 million in subsidies – to drill 3 wells in the concession.

According to Daily News Egypt (Daily News Egypt), at the time, Neptune Energy considered the deal to demonstrate its commitment to development activities in North Africa.Daily news)

As reported in Offshore Magazine, the company expects to start drilling the first operational concession wells northwest of Al-Amal in the summer of 2023 (Sea-Mac)

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