Sunday, December 11, 2016

, approve new development plan in Egypt

"The project is excellent progress and targeting final investment decision by the end of 2018," he said.Mohamed Ibrahim also commented on the recent announcement of the original it was considering an initial public offering exploration and production assets of their source."Although the origin of information provided to the market is limited understood, it should be a new entity that only the positive production and exploration in Egypt focused and we do not expect any delay to our schedule."It was originally very supportive of Egypt Gas Project Phase 1A and the sale of the assets of the Nile Basin, which recently concluded, did not affect the schedule. He said he was the first volumes of gas delivered safely, on time and within budget in August 2016"."In the figures provided by the parent, and Egypt accounted for about 25% of the new company

 Mohammed Ibrahim, CEO of AWE Limited said that the preparations for the drilling have been advanced. "The joint venture has been approved by the budget, schedule and we expect to drill Waitsia-3 and Waits 4 from April to June 2017, subject to obtaining approvals. He said that this is a pre-Wells final planning assessment of the development of Phase 2 will provide valuable data possible and increase our 2P reserves ".

AWE can also report that it has begun a tender for Waits Phase 2 gas sales which tenders received.

"We have received an extraordinary response from potential customers with volumes attempt to reach more than 2P reserves and joint ventures weakness. He said Biggs's decision to align with customer requirements from 2020 onwards come out and discussions with potential buyers are going well."

"Waits Phase 2 can provide 10% of the domestic demand for gas and Washington after 100 TJ a day, for 10 years. He said Biggs feedback from potential customers that gas from Waits Phase 2 is a welcome addition to the local market of gas and Washington it increases the diversity of producers and provides a low risk of the land supply train. "

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