Perenco established operations in Egypt in October 2004 with the acquisition of a 50% interest in the then undeveloped Offshore North Sinai (ONS) gas assets.
Perenco is the Operator and now holds 100% of the ONS Contractor Group interest. ONS includes the Tao and Kamose fields.
Production from the Tao field started in February 2009 with plateau production of 180 MMscfd reached shortly afterwards. Production averaged 68 MMscfd (11 300 boepd) in 2013, with the natural decline and high water breakthrough on TAO8 drilled in Q3 2012. Some successful operations were conducted at the end of 2013 which allowed production to return to a sustained level of 8 000 boepd in 2014.
In September, 2013 Perenco and EGAS signed a new Phase IIB program. This will play a part in helping Perenco achieve its objective of returning to a plateau of 180 MMscfd during 2014 from the current portfolio of development projects in Egypt.