- Three new oil and gas discoveries in the concessions in Egypt’s Western Desert were announced by Italian multinational oil and gas company Eni.
- The multinational has had a footprint in Egypt since 1954, where it operates through its subsidiary, IEOC Production.
- The current equity production of IEOC is about 360,000 boepd.
Three new oil and gas discoveries in the concessions in Egypt’s Western Desert were announced by Italian multinational oil and gas company Eni. The multinational has had a footprint in Egypt since 1954, where it operates through its subsidiary, IEOC Production. The current equity production of IEOC is about 360,000 boepd.
A press statement issued by Egypt’s ministry of petroleum said that the discoveries include oil, gas and condensate discoveries in the Meleiha concession and oil discovery in the South Mleiha concession area.
The discoveries in the Meleiha Development Concession were through the Yasmin W-1X and MWD-21 wells. in the license of Meleiha concession, Eni holds a 38% stake, while Russia’s Lukoil holds 21% and Egypt’s General Petroleum Corporation 50%.In the Southwest Meleiha concession, the discovery was achieved through the SWM-4X well. In this concession, Eni and the Egyptian General Petroleum Corporation own a 50% stake each.
The total proven reserves from the three wells are estimated at around 50 million barrels of oil equivalent from petroleum resources. The three wells together will add a total production of about 6000 barrels of oil equivalent per day.
