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Home Energy

Eni discovers oil in western Egypt

Energy Capital & Power by Energy Capital & Power
November 4, 2021
in Africa, Egypt, Energy, FA, Oil
Reading Time: 1 min read
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Italian multinational Eni has made three new oil and gas discoveries in the Meleiha area of western Egypt, estimated to hold 50 million barrels of crude oil equivalent – which will add 6,000 barrels per day to crude production.

The discoveries were made by drilling the Yasmin W-1X and MWD-21 wells in the Aman South Deep Area, near the West Meleiha Deep. It is estimated that the Yasmin W-1X will yield an average production of 2,000 barrels per day of light crude and seven million cubic feet per day of associated gas, while the MWD-21 well has already been linked to production and produces 2,500 barrels per day.

Eni holds a 38% stake in the Meleiha concession through its subsidiary, along with Lukoil (21%) and Egypt’s General Petroleum Corporation (50%). Eni has been active in Egypt since 1954 and has recently been implementing a near-field exploration strategy in the Egyptian Western Desert through AGIBA, a joint venture with the Egyptian General Petroleum Corporation.

Also read: World Bank approves US$360M loan for Egypt post-pandemic recovery

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Via: Energy Capital & Power
Tags: crude oilEgyptENIEni discovers oil in western Egyptoiloil & gasOil and gasЕгипетمصرエジプト埃及
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Energy Capital & Power

Energy Capital & Power

Energy Capital & Power is the African continent’s leading investment platform for the energy sector. Through a series of events, online content and investment reports, we unite the entire energy value chain – from oil and gas exploration to renewable power – and facilitate global and intra-African investment and collaboration.

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