Eni granted two new exploration blocks in Egypt

BUSINESS
Eni granted two new exploration blocks in Egypt

Egyptian authorities have granted Italian oil and gas giant Eni two exploration blocks - one in Egypt's Western Desert and the second in the Nile Delta - further strengthening the company's position as the country's leading producer, Eni said in a statement on Friday.


The first block, “South East Siwa”, which is 100% operated by Eni, has been assigned within the EGPC 2018 competitive bid round. The block, which has an acreage of 3,013 km2 , the statement said.

The block is close to Eni's “SW Melehia” Concession, where two commercial oil discoveries were recently announced and for which development plans are currently being prepared, the statement noted.

The second block, “West Sherbean” (Eni 50%, Operator; BP 50%), has been assigned within the EGAS 2018 competitive bid round, according to the statement. The block is located immediately southwest of the new concession assigned to Eni in August last year and where the Nooros field is located. The new block covers an area of 1,535 km2

The exploration of these new areas, if successful, will benefit from existing or under construction infrastructures for its rapid exploitation, the statement noted.

Eni has operated in Egypt through its subsidiary Ieoc since 1954 and is the country's leading producer with equity above 330,000 barrels of oil equivalent per day. It discovered the giant Zohr prospect in 2015, the Mediterranean's largest gas field, which is expected to near peak production this year.



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