Agiba makes largest Western Desert discovery in 15 years

Agiba Petroleum Company, a joint venture between the Egyptian General Petroleum Corporation (EGPC) and Eni, recorded its largest oil and gas discovery in 15 years in Egypt’s Western Desert, the country’s Ministry of Petroleum and Mineral Resources announced.

The discovery was made through the Bustan South-1X exploratory well, drilled by the Egyptian Drilling Company’s EDC 9 rig. Preliminary estimates put recoverable reserves at around 330 billion cu ft of natural gas and 10 million bbl of condensates and crude oil, for a total of approximately 70 million BOE.

The discovery lies approximately 10 km from existing production facilities and pipelines, which the ministry said would allow for rapid development and early connection to the network. Multiple sandstone and limestone reservoirs were identified, with a net productive thickness of approximately 122 m.