Another oilfield discovery by Eni in Egypt

Eni successfully drilled the “Nidoco North 1X” well, in the exploration prospect of “Nooros East”, located in the Abu Madi West license, in the Nile Delta, Egypt. The new find start up is expected by the end of March 2016 and will allow the Nooros area, which started production in September 2015, just two months after the initial Nooros discovery, to reach a production of approximately 45,000 barrels of oil equivalent per day. Eni, through its subsidiary IEOC, holds a 75% stake in the concession of Abu Madi West, while BP holds a 25% stake.
By the middle of 2016, with the addition of new development wells, the production capacity will increase to over 60,000 boed. The gas and condensates produced are sent to the Abu Madi’ treatment plant, about 25 kilometers from the discovery, and then routed to the Egyptian network.
The appraisal plan envisages the drilling of 3 further wells to fully delineate the field which holds a potential of up to 30 trillion cubic feet of lean gas in place (5.5 billion of barrels of oil equivalent in place).
Recently Eni announced the completion, with the Egyptian authorities, of the approval process for the development of Zohr field.
In both licenses, operations are being conducted by Petrobel, which is a joint venture between IEOC and the State partner Egyptian General Petroleum Corporation.