Noble Energy announces agreement to progress development of Alen Natural Gas, offshore Equatorial Guinea
Houston, (GLOBE NEWSWIRE) -- Noble Energy, Inc. announced that it has executed, along with the Government of the Republic of Equatorial Guinea and necessary third-parties, a Heads of Agreement establishing the framework for development of natural gas from the Alen field located offshore Equatorial Guinea.
The agreement outlines the high-level commercial terms for Alen natural gas to be processed through Alba Plant LLC’s Liquefied Petroleum Gas plant and EGLNG’s Liquefied Natural Gas (LNG) facility, both located in Punta Europa. The structure contemplated would result in the Alen field partners and the EG LNG owners accessing global LNG markets. Sanction of the project is contingent upon final commercial agreements being executed.
Gary W. Willingham, Noble Energy’s Executive Vice President, Operations, commented, “This is a significant milestone as it marks the first step to monetizing a substantial amount of gas from the Alen field through existing infrastructure on Bioko Island. This project will transform the Alen platform into an offshore hub for potential development of additional gas fields nearby. First production is anticipated early in the next decade.”
Existing production and processing facilities in place at the Alen platform and in Punta Europa require only minor modifications to produce and process the Alen gas. The agreement contemplates construction of a 65-kilometer pipeline to transport gas from the Alen platform to the facilities in Punta Europa. The pipeline is being designed with capacity to handle production from multiple fields.
The Alen field, located in Blocks O and I, offshore Equatorial Guinea, has been producing natural gas and condensate since field startup in 2013. Natural gas produced has been reinjected into the reservoir to enhance liquids recovery.
The Company estimates an incremental 600 billion cubic feet of gross natural gas equivalent resources from the Alen field are recoverable as a result of the project. Noble Energy operates the Alen field with a 45 percent working interest and holds a 28 percent non-operated working interest in the Alba Plant.
The US Energy Information Administration (EIA) reported in April that the US set records for natural gas production in 2017.
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