Egyptian Authorities granted Italian energy firm Eni two exploration blocks onshore Egypt, Eni announced Friday.
According to the statement, the first block, South East Siwa, owned 100 percent by Eni, was assigned within the Egyptian General Petroleum Corporation (EGPC) 2018 competitive bid round.
The block, which has a 3,013 square-kilometer acreage, is located in the Western Desert close to Eni's SW Melehia Concession, where two commercial oil discoveries have recently been announced and for which development plans are currently being prepared.
In addition, the second block, West Sherbean in which Eni owns and operates a 50 percent stake while BP has the other 50 percent interest, was also assigned within the EGAS 2018 competitive bid round.
The block is located onshore the Nile Delta, immediately southwest of the new Nile Delta concession assigned to Eni in August 2018 and where the Nooros field is located.
"The new block covers an area of 1,535 kilometers square," Eni confirmed.
The exploration of these new areas, if successful, will benefit from existing or under construction infrastructures for its fast exploitation.
The company is the country's leading producer with equity above 330,000 barrels of oil equivalent per day.
By Gulsen Cagatay