Eni makes Egypt oil discovery

07 February 2013

Italian oil firm hits oil in Meleiha concession

Italy’s Eni has made a new oil discovery at its Meleiha concession in Egypt’s Western Desert.

The company encountered 80 metres of oil at the Rosa North 1X well and successfully tested reservoir flows, with oil between 43 to 48 API, according to a 6 November company statement.

Eni expects to drill two wells in the area in 2013 for the development of the discovery, with production estimated at 2,000 barrels a day (b/d) each. Production of 5,000 b/d is expected within a year and will be delivered to processing facilities at the nearby Meleiha field.

Eni holds a 56 per cent stake in the Meleiha concession, along with 24 per cent for Russia’s Lukoil and 20 per cent for Japan’s Mitsui. The company produced an average of 240,000 barrels of oil equivalent a day in 2011.

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