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Eni Granted Two Exploration Blocks Onshore Egypt

Source: www.gulfoilandgas.com 2/15/2019, Location: Egypt

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Eni has been granted by Egyptian Authorities two exploration blocks onshore Egypt. The first block, “South East Siwa” (Eni 100%), has been assigned within the EGPC 2018 competitive bid round. The block, which has an acreage of 3,013 km2, is located in the Western Desert close by to the Eni “SW Melehia” Concession, where two commercial oil discoveries have recently been announced and for which development plans are currently being prepared.

The second block, “West Sherbean” (Eni 50%, Operator; BP 50%), has been assigned within the EGAS 2018 competitive bid round. The block is located onshore Nile Delta, immediately southwest of the new "Nile Delta" concession assigned to Eni in August 2018 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 fast exploitation.

These new concessions further strengthen Eni’s position in Egypt where the company operates through its subsidiary Ieoc since 1954. The company is the country's leading producer with equity above 330,000 barrels of oil equivalent per day.

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