Eni Announces Oil Discovery in Egyptian Western Desert
Eni announced Monday a second oil discovery in the Fagur Basin in the Egyptian Western Desert.
SWM B1-X was drilled 4 miles away from the first discovery (SWM A2-X), to a total depth of 14,839 feet, and encountered 114 feet of light oil in the Paleozoic sandstones of Dessouky Formation of Carboniferous age and in the Alam El Bueib sandstones of Cretaceous age.
The well has been opened to production in the Dessouky sandstones and has already delivered 5,130 barrels of oil per day of light oil with low associated gas, Eni revealed.
“The discovery on B1-X confirms the high exploration and production potential of deep geological sequences of the Faghur Basin,” Eni said in a company statement released on its website.
"Eni plans, in the near term, the drilling of other exploratory prospects located nearby the A2-X and B1-X discoveries to consolidate what can result as a new productive area for Eni in Egypt,” Eni added.
Eni, through its subsidiary International Egyptian Oil Company (IEOC), holds a 100 percent stake in the South West Meleiha license, where the A2-X and B1-X discoveries are located.
IEOC, through its operating company Agiba, which is equally held by IEOC and the Egyptian General Petroleum Corporation, currently produces 55,000 barrels of oil equivalent per day from the Egyptian Western Desert.
WHAT DO YOU THINK?
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.
- ExxonMobil Racks Up Discoveries in Guyana Block Eyed by Chevron
- Oil Market Sentiment Has Improved Significantly
- EU, US Eye Collaboration on Nuclear Materials
- USA Driving Activity to Increase to All-Time Highs
- EU Electricity Export to Ukraine Up 94 Percent in Two Years
- China Coal Output Falls for First Time since Government Ordered More
- TC Energy to Sell Prince Rupert Gas Pipeline Project to First Nation
- BP Pulse Buys One of Europe's Largest Truck Stops
- UK CCUS Plans Outdated: Think Tank
- I Squared Eyes Full Ownership of Europe Gas Storage Firm
- Norway Regulator Blasts Proposal to Halt New Oil and Gas Permits
- Chinese Mega Company Makes Major Oilfield Discovery
- EIA Drops 2024 Henry Hub Gas Price Forecast
- EIA and Standard Chartered Offer Up Latest Oil Price Predictions
- Red Sea Region Sees Another Watershed Incident
- Chevron Oil Project in Kazakhstan to Cost $48.5B
- OPEC Voices Encouragement after IEA Affirms Support for Oil Security
- Biden Govt Bares Strategy for Freight Charging, Hydrogen Fueling Infra
- Ukraine Hits Third Russian Refinery In Escalating Drone Strikes
- Rystad Looks at the Buzz Around White Hydrogen
- VIDEO: Missile Attack Kills Crew Transiting Gulf of Aden
- Norway Regulator Blasts Proposal to Halt New Oil and Gas Permits
- Chinese Mega Company Makes Major Oilfield Discovery
- What Is the Biggest Risk to Offshore Oil and Gas Personnel in 2024?
- Is Peak Oil Demand Close?
- Vessel Sinks in Red Sea After Missile Strike
- JP Morgan, Standard Chartered Reveal Latest Oil Price Forecasts
- Exxon Rights in Stabroek Do Not Apply to Hess Merger with Chevron: Hess
- Rystad Forecasts Net Production of Top Permian Producers in 2024
- Analysts Reveal Latest Oil Price Outlook Following OPEC+ Cut Extension