Neorion Navel Arsenal (Location)
A large military installation in southwest Krokodilopolis, in Faiyum Oasis.
You'll assassinate a guest here during the Sobek's Tears Side quest. In fact, her residence, a houselike structure to the southeast, holds one of the treasures.
The other is in the commander's office, in the middle of camp.
Come over the wall just behind the villa and sneak in to claim the red treasure chest there, on the upper floor against the west wall.
Pick off any nearby guards, then go north to the gate. A rope runs between the nearest gate tower and the commander's office.
Slip in through the balcony door for a clean shot at the commander's back.
Kill him and loot the small jewelry box on his desk for treasure number 2.
Your last objective, the captain, tends to hang out at the far western end of the facility, patrolling the waterfront.
You can either snipe him from afar, or sneak-kill your way along the wall to get to him.
Either way, his death completes the location.
If you did walk all the way over to knife him, however, you are likely in good position to kill two more guards and free the prisoners, also by the waterfront.