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Eni Discovers Oil in Egypt

Eni Discovers   Oil in EgyptEni Discovers   Oil in Egypt

Italian oil giant Eni announced a second oil discovery in Egypt’s Western Desert on Monday, some 130 km north of the Siwa oasis, a statement by Eni reads. In an official statement published on its website, Eni said the discovery was made on the B1-X exploration prospect located in the South West Meleiha Concession. The well is the second to be drilled by Eni in an exploration of the deep geological sequences of the Faghur Basin. The second well was drilled 7 km away from the first discovery (SWM A2-X) up to a total depth of 4,523 meters and encountered 35 meters net of light oil in the Paleozoic sandstones of Dessouky Formation from the Carboniferous age and in the Alam El-Bueib sandstones of Cretaceous Age. “The discovery on B-1X confirms the high exploration and production potential of the deep geological sequences of the Faghur Basin,” Eni said. Present in Egypt since 1954, Eni is the main producer with the equivalent of approximately 300,000 barrels of oil per day equity.

 

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