EGYPT: Eni Discovers New Oil in Meleiha & South West Meleiha Leases

Eni announces new discoveries in Meleiha and South West Meleiha concessions, in the Western Desert of Egypt. Preliminary estimates of the resources associated to these new discoveries are at 50 Mboe of hydrocarbon in place.

The discoveries in the Meleiha development lease were achieved through the Jasmine W-1X and MWD-21 wells, while in South West Meleiha exploration concession the discovery was made through SWM-4X well, located 35 km south from the Meleiha oil center.

The Jasmine W-1X well encountered 113 feet of net hydrocarbon pay in the Jurassic sandstones of the Khatatba formation with good petrophysical properties. The production test proved a production rate of 2,000 barrel per day (bopd) of light oil (49°API) and 7 MMscfd of associated gas. Jasmine MWD-21 well encountered 51 feet of net oil column in Cretaceous sandstones of the Alam El Bueib formation, with excellent petrophysical properties. It is already tied-in to production, with a stabilized rate of 2,500 bopd.

In South West Meleiha, the SWM-4X well encountered 36 feet of net oil sand in Cretaceous sandstones of the Bahariya formation, with excellent petrophysical properties. The production test proved an initial rate of 1,800 bopd with 0.3 MMscfd.

Altogether, the new discoveries add more than 6,000 barrels of equivalent oil per day (boed) to Eni’s gross production. The new discoveries have potential for additional appraisal and production wells that will be immediately planned in order to sustain the Agiba production plateau.

Eni is continuing to pursue its successful near field and infrastructure-led exploration strategy in the Egyptian Western Desert through Agiba, a joint venture between Eni and Egyptian General Petroleum Corporation (EGPC), which allows a quick valorization of these new resources.

Eni, through its subsidiary IEOC, holds a 76% of Contractor’s participating interest in the Meleiha concession while LUKOIL holds the remaining 24%. Both Companies are parties in this concession with EGPC and the Government of Egypt.

In the South West Meleiha concession, Eni, through its subsidiary IEOC, holds a 100% of Contractor’s participating interest. IEOC, EGPC and the Government of Egypt participate in the concession as parties.

Eni has been present in Egypt since 1954, where it is the country’s main producer. Its current equity hydrocarbon production is around 360,000 barrels of oil equivalent per day (boed).