Noble Energy Sanctions the Alen Gas Project with Startup Planned in the First Half of 2021

(P&GJ) - Noble Energy, Inc. announced today that the Company has approved the Alen natural gas development offshore Equatorial Guinea (EG).

Natural gas from the Alen field will be processed through the existing Alba Plant LLC liquefied petroleum gas processing plant (Alba Plant) and EG LNG’s liquefied natural gas production facility (EG LNG) located at Punta Europa, Bioko Island. Definitive agreements in support of the project were executed between the Alen field partners, the Alba Plant and EG LNG plant owners, as well as the government of the Republic of Equatorial Guinea.

The Alen field initially commenced operation in 2013 as a condensate production and natural gas recycling project. The Alen gas monetization project will utilize the existing three high-capacity production wells on the platform, with minor modifications necessary to deliver sales gas from the platform to the Alba Plant and EG LNG facilities. A 24-inch pipeline capable of handling 950 million cubic feet of natural gas equivalent per day (MMcfe/d) will be constructed to transport all natural gas processed through the Alen platform approximately 45 miles to the onshore facilities.

Keith Elliott, Noble Energy’s Senior Vice President, Offshore, stated, “We are excited to announce this high-return, capital-efficient development as our next offshore major project. First production is anticipated in the first half of 2021, following on our world-class Leviathan project which is expected to begin producing late this year. The Alen development is the first step towards creating an offshore natural gas hub in E.G., which will open the potential for future monetization of additional discovered resources through existing infrastructure. Noble Energy has discovered three trillion cubic feet of gross natural gas resources in the Douala Basin, which positions us well for LNG sales exposure over the coming decade.

At start-up, natural gas sales from the Alen field are anticipated to be between 200 and 300 MMcfe/d, gross (~75 to 115 MMcfe/d net to Noble Energy). The wet gas stream will be tolled through the Alba Plant for additional liquids recovery before converting dry gas into LNG via the EG LNG facility. The Company anticipates that Alen natural gas sales will grow modestly as open capacity in the EG LNG plant increases due to declining Alba field production.

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