Eni makes new oil discovery in Egypt

Eni announced a new oil discovery, in Meleiha Concession, in the Western Desert of Egypt.

The discovery was achieved through the Arcadia 9 well, drilled on the Arcadia South structure, which is located 1.5 km south of the main Arcadia field already in production. The well encountered 85 feet of oil column in the Cretaceous sandstones of the Alam El Bueib 3G formation.

Following the discovery, two development wells, Arcadia 10 and Arcadia 11, have been drilled back to back. The first one encountered 25 feet of oil column and the second one 80 feet, within the Alam El Bueib 3G formation. The three wells share the same oil-water contact in the discovered reservoir. Arcadia 11 also encountered 20 feet of oil pay in the overlying Alam El Bueib 3D formation.

The new discovery adds 10,000 barrels of oil per day to Eni's gross production in the Western Desert of Egypt.

Eni's successful implementation of its infrastructure-led exploration strategy in the Western Desert through AGIBA, a joint venture between Eni and Egyptian General Petroleum Corporation (EGPC), allows a quick valorisation of these new resources.

Eni, through its subsidiary Ieoc, holds a 38 per cent interest in the Meleiha concession while Lukoil holds a 12 per cent and EGPC a 50 per cent interest.