Italian energy giant Eni made an oil discovery in the Egyptian Western Desert's Faghur Basin, 103 kilometers north of the Siwa oasis, Eni announced Thursday.
The oil discovery, which was made in the southwest Meleiha license, started production and delivers 2,300 barrels of light oil per day (bpd) and 0.4 million standard cubic feet per day of associated gas, the press release said.
"The well is the first one drilled by Eni to explore the deep geological sequences of the Faghur Basin," the press release said.
The company announced, that based on the relevant authority’s approval, production will potentially link to existing nearby infrastructure and ship to the El Hamra Terminal through existing pipelines.
Eni, through its subsidiary IEOC, holds a 100 percent stake in the southwest Meleiha license.
IEOC through its operating company AGIBA, in which IEOC and the Egyptian General Petroleum Corporation (EGPC) have equal share equity, currently produces 55,000 barrels of oil equivalent per day, from the Egyptian Western Desert.
Eni has been present in Egypt since 1954, operating through its subsidiary IEOC. The company is the main producer in Egypt with 260,000 bpd of equity and production is expected to further grow within the year, thanks to the ramp up of the Zohr offshore natural gas field located in the Egyptian sector of the Mediterranean Sea.
By Muhsin Baris Tiryakioglu
Anadolu Agency
energy@aa.com.tr