Eni Announced Discovery in Western Desert of Egypt
Milan-based Eni unveiled a new oil and gas discovery in the Western Desert of Egypt, confirming its commitment to the North African country.
‘Eni has announced a new discovery of oil and gas in the West Melehia deep exploration prospect, located in the Melehia licence, in the Western Desert of Egypt, 300 square kilometers west of Alexandria’ reads a note released on Thursday.
Apart from light oil, the exploration well in the Melehia licence encountered a mineralised accumulation of gas and condensates in the Upper Jurassic age in the Safa formation.
‘The discovery will be rapidly followed by the drilling of other delineation and development wells which should result in an estimated production of about 8,000 barrels per day by the end of 2015.’
Eni holds a 76% stake in the Melehia’s licence, with the remaining shares controlled by Russia’s Lukoil. The operator is a joint venture between Eni’s subsidiary IEOC and the Egyptian General Petroleum Corporation (EGP ).
Earlier this month, he six-lagged dog increased its portfolio in the Mediterranean, signing two new concession agreements with Egyptian authorities.