East Med focused Greek firm Energean saw its Q1 output rise 4% sequentially to 142,000 boe/d (650mn cfd gas, 26,000 b/d oil,), boosted by a 28% increase in Egypt output to 32,000 boe/d (154mn cfd gas, 4,500 b/d oil) with recent infill drilling at its key Abu Qir field and development drilling at the satellite NEA/NI project.
This compares to 25,000 boe/d Egypt output (120mn cfd gas, 3,500 b/d oil) for both Q4 and 2023 as a whole (MEES, 19 January). The firm’s Q1 Egypt output is the highest since 2020 when Energean purchased the assets from Italy’s Edison (MEES, 18 December 2020) and comes thanks to a $235mn drilling spend. (CONTINUED - 987 WORDS)
