Eni discovers light oil in Egyptian Western Desert
Italian oil major's findings suggest Faghur Basin could provide new production area for the firm in North Africa.
Italian oil and gas firm Eni has announced a second light oil discovery on the B1-X exploration prospect located in the South West Meleiha licence, in the Egyptian Western Desert, some 130 kilometres north of the oasis of Siwa.
The well is the second one drilled by Eni to explore the deep geological sequences of the Faghur Basin. SWM B1-X has been drilled seven kilometres away from the first discovery (SWM A2-X), to a total depth of 4,523 metres and encountered 35 metres net of light oil.
The well has been opened to production and has delivered 5,130 barrels of oil per day of light oil with low associated gas.
The discovery at B-1X confirms the high exploration and production potential of deep geological sequences of the Faghur Basin. Eni plans, in the near term, the drilling of other exploratory prospects located nearby the A2-X and B-1X discoveries to consolidate what could lead to a new productive area for Eni in Egypt.
The production is expected to be routed through already existing infrastructures and then shipped to the El Hamra Terminal via existing pipelines, following development plan approval by the Ministry of Petroleum and Mineral Resources.
Eni, through its subsidiary the International Egyptian Oil Company (IEOC), holds a 100% stake in the South West Meleiha licence. IEOC through its operating company Agiba, which is equally held by IEOC and the Egyptian General Petroleum Corporation, currently produces 55,000 barrels of oil equivalent per day (boed) from the Egyptian Western Desert.
Eni has been present in Egypt since 1954, where it is the main producer with approximately 300,000 boed equity. Such production is expected to further grow within the year, thanks to the ramp up of output from the Zohr field.