Eni reports gas discovery in the Egyptian Obayed concession

MILAN -- Eni announces a gas discovery in the Egyptian Western Desert. The discovery well has been drilled on the Faramid South exploration prospect located in East Obayed concession, 30 km North-West of the Melehia Concession. The well reached the target depth of 17,000 ft and encountered several gas bearing layers in the Kathabta sandstones of Jurassic age.

The well has been opened to production delivering 25 MMscfd, confirming the potential of the East Obayed Concession.

Eni has started the studies to develop these relevant gas reserves that, together with the gas potential of the Melehia Concession, can contribute to increase the country gas production from the Western Desert basin.

Eni, through its Operating Company AGIBA, which is equally held by Eni subsidiary IEOC and the Egyptian General Petroleum Corporation (EGPC), currently produces 55,000 boed from the Egyptian Western Desert. AGIBA owns 100% of the East Obayed Concession.

Eni has been present in Egypt since 1954, where is the main producer with approximately 320,000 boed equity. Such production is expected to further grow within the year, thanks to the ramp up of Zohr field.