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Fiona Urbain
Tuesday 5 January 2021 Last update on Tuesday, January 5, 2021 At 11:02 AM

Through its aggressive exploration strategy in Egypt, Eni discovered a new reserve of crude oil in the Meleiha Block in the Western Desert. The discovery was immediately connected to the pumping facilities and marks the effectiveness of the Italian giant's campaign in the region.

The Italian oil company Eni, has announced that it has acquired a new deposit of black gold in the perimeter covered by the Meleiha license, located in the Egyptian Western Desert. The Arcadia 9 well, which houses the reserve, was drilled on the Arcadia South structure, located 1.5 km south of the main Arcadia field, already in production.

Drilling has intercepted 85 feet of oil column in the Cretaceous sandstones of the 3G Alam El Bueib Formation. The well was immediately connected to existing infrastructure and will have a flow rate of 5,500 barrels per day.

The last discovery on the site dates back to last July. It currently has a production level of 5,000 barrels per day. Before, the concession produced 12,000 barrels per day.

“The successful implementation of Eni’s exploration strategy in the Western Desert through AGIBA, a joint venture between Eni and the Egyptian General Petroleum Corporation (EGPC), enables rapid development. of these new resources, ”said the company, which is leading an offensive exploration campaign in this area, in spite of the coronavirus and the overall decline in exploration activities in the sector.

After the discovery of Arcadia 9, two more wells: Arcadia 10 and Arcadia 11 were successfully drilled. Post-drilling results are not yet available.

Through its subsidiary Ieoc, Eni has a 38% stake in the Meleiha concession and the Russian energy company Lukoil has a 12% stake, with the remaining 50% held by EGPC.

Source Ecofin Agency