It says, offshore pipeline installation remains on schedule for the third quarter 2020 with final hookup and commissioning in late 2020 in the African country. Progress has been made, despite the corona virus pandemic.
During 2Q 2020, Noble Energy started hedge positions to achieve global LNG revenues for a portion of expected 2021 and 2022 gas revenues, it said.
The Alen field includes total estimated gross recoverable resources of about 600 billion cubic feet of natural gas equivalent.
Noble Energy and its partners decided in April 2019 to proceed with the Alen Gas Monetization project.
Natural gas from the field will be treated at liquefied natural gas and liquefied petroleum gas facilities in Punta Europa on Bioko Island off the African coast.The project included a 43-mile pipeline that is 24 inches in diameter to move gas from the platform to the island. It can handle 950 million cubic feet of natural gas equivalent per day.Gross capital expenditures are estimated to be $330 million to the partners.
The Alen project is designed to create an offshore LNG hub off Equatorial Guinea. It also has 3 trillion cubic feet of natural gas available in the nearby Douala Basin, Says Noble Energy.
