Eni Discovers Oil in Western Egypt

Image: CGTN Africa

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.

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Grace Goodrich

Grace Goodrich

Grace Goodrich is a Publications Editor at Energy Capital & Power, where she writes about the intersection of energy, policy and global finance in sub-Saharan Africa's fastest-growing economies. Grace produces our Africa Energy Series investment reports in Angola and Equatorial Guinea (2019), as well as co-authored African Energy Chamber: Road to Recovery (2021).

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