Eni, a leading Egyptian Oil Company, has just announced a second light oil discovery on the b1-X exploration prospect, which is located in the South West Meleiha license, in the Egyptian Western Desert, located approximately 130 km North of the oasis of Siwa.
The well in question is the second drilled well by Eni, who had plans to explore the deep geological sequences of the Faghur Basin. Approximately 7 km away from their first discovery (SWM A2-X), SWM B1-X has been drilled to a total depth of 4,523 meters. Down there Eni announced that they encountered 35 meters net of light oil in the Paleozoic sandstones of Dessouky Formation of Carboniferous age and in the Alam El Bueib sandstones of Cretaceous Age.
Since the encounter, the well has been opened to production in the Dessouky sandstones and delivered 5,130 barrels of oil per day (BOPD) of light oil commonly associated with low gas. This discovery further cements exploration and production potential of deep geological sequences of the Faghur Basin for the company.
Eni plans, in the near term, to drill other exploratory projects in the surrounding area to consolidate what can result as a new productive area for Eni in Egypt.
Following this, the company have announced that they plan to route production to already existing infrastructures and then ship production to El Hamra Terminal through existing pipelines, (after Development Plan approval by Ministry of Petroleum and Mineral Resources).
Eni is an Egyptian Oil company that currently produces 55,000 barrels of oil equivalent per day from the Egyptian Western Desert and has been present in Egypt since 1954.
More information on the discovery can be found here.