Eni makes three oil, gas discoveries in Egypt's Western Desert

The three discoveries add over 6,000 barrels of equivalent oil per day

  
The logo of Italian energy company Eni is seen at the booth of Eni during the Nigeria International Petroleum Summit in Abuja, Nigeria February 10, 2020. Image used for illustrative purpose.

The logo of Italian energy company Eni is seen at the booth of Eni during the Nigeria International Petroleum Summit in Abuja, Nigeria February 10, 2020. Image used for illustrative purpose.

Reuters/Afolabi Sotunde

Cairo – Mubasher: The Italian oil and gas giant Eni has made three new discoveries in its Meleiha and South West Meleiha concessions in the Egyptian Western Desert.

The three discoveries add over 6,000 barrels of equivalent oil per day, while the preliminary estimates of the resources associated to these discoveries are at 50 million barrels of oil equivalent, according to a statement on Tuesday.

"The new discoveries have potential for additional appraisal and production wells that will be immediately planned in order to sustain the Agiba production plateau,” the company said.

Eni, through its subsidiary IEOC, owns a 76% of the contractor’s participating interest in the Meleiha concession, while LUKOIL owns the remaining 24%. The two companies are parties in this concession with the Egyptian General Petroleum Corporation (EGPC) and the Egyptian government.

Moreover, the Italian energy giant,through its subsidiary IEOC, holds 100% of the contractor’s participating interest in the South West Meleiha concession. IEOC, EGPC, and the Egyptian government are parties in the concession.

Source: Mubasher

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