Offshore staff
HOUSTON – Noble Energy anticipates offshore capex this year of around $275 million, much lower than in 2019 with the flagship Leviathan project now onstream offshore Israel.
Two-thirds of the amount will be allocated to the company’s natural gas monetization project at the Alen field off Equatorial Guinea. The remaining one-third will primarily go to for pipeline expansion work offshore Israel related to contractual obligations, plus completion of the Leviathan Phase one development.
Noble has budgeted around $75 million for exploration capital, mostly for a planned well offshore Colombia during the second half of the year.
Sales volumes should be in between 385 and 405,000 boe/d led by rising volumes from Leviathan, where four subsea production wells are online with sales under way to Israel, Jordan, and Egypt.
The company expects a 100% increase in its gas sales from Israel this year, averaging 445-485 MMcf/d.
Off Equatorial Guinea, however, sales volumes will likely be down by 10-15% on 2019 due to natural field decline, as well as planned 4Q maintenance at the Alba complex - despite the inflow of oil from the recently onstream Aseng 6P well.
02/12/2020
