Eni announces oil discovery in Egypt’s Faghur Basin

egypt faghur basin 10Eni, Africa-focused oil and gas company, has announced a second light oil discovery on the B1-X exploration prospect, located in South West Meleiha license in the Egyptian Western Desert

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 in the Paleozoic sandstones of Dessouky Formation of Carboniferous age and in the Alam El Bueib sandstones of Cretaceous Age.

The well has been opened to production in the Dessouky sandstones and delivered 5,130 bopd of light oil with low associated gas.

The discovery on B-1X confirms the high exploration and production potential of deep geological sequences of the Faghur Basin.

Eni has intended its near-term plan to start the drilling of other exploratory prospects located nearby the A2-X and B-1X discoveries to consolidate what can result as a new productive area for Eni in the North African country.

The production is expected to be routed to already existing infrastructures and then shipped to El Hamra Terminal through existing pipelines, after development plan approved by the Ministry of Petroleum and Mineral Resources.

Eni, through its subsidiary International Egyptian Oil Company (IEOC), holds a 100 per cent stake in South West Meleiha license. IEOC through its Operating Company Agiba, which is equally held by IEOC and the Egyptian General Petroleum Corporation (EGPC), currently produces 55,000 boepd from the Egyptian Western Desert.

Eni has been present in Egypt since 1954, where is the main producer with approximately 300,000 boepd equity. Such production is expected to further grow within the year, thanks to the ramp up of Zohr field.

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