Eni Makes 'Significant' Gas, Condensate Discovery Offshore Libya

Italy's Eni reported Monday that it has made a "significant discovery of gas and condensates" offshore Libya at the Bahr Essalam South exploration prospect in Area D, some 50 miles from the coast of the country.

The discovery was made through the B1-16/4 well, drilled at a water depth of 490 feet, which encountered gas and condensates of Eocene age in the Metlaoui Formation. During a production test the well produced 29 million cubic feet per day of natural gas and more than 600 barrels per day of condensate. Eni said that the well could deliver in excess of 50 million cubic feet of gas per day and 1,000 barrels per day in condensate in a production configuration.

The company said that the new field could be developed quickly due to its proximity to the already-producing Bahr Essalam field.

Eni also announced Monday that it has completed post-drilling studies on the Merakes-1 gas discovery, located in the Indonesian deep offshore East Sepinggan block. The studies indicate "significant upside gas potential", with gas estimated to be in place at Merakes increased from 1.3 trillion cubic feet to 2 tcf.

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