Eni has announced a new gas discovery in Egypt's Western Desert. “The discovery well has been drilled on the Faramid South exploration prospect located in East Obayed concession, 30 km northwest of the Melehia Concession,” the Italian energy giant said in a statement on Thursday. The well reached the target depth of 17,000 ft, according to the company. Eni said the well has been opened to production delivering 25 million standard cubic feet per day, confirming the potential of the East Obayed Concession. Eni has begun studies to develop the gas reserves that, together with the gas potential of the Melehia Concession, can increase production from the Western Desert Basin. Eni, through its operating company AGIBA, which is jointly held by Eni subsidiary IEOC and the Egyptian General Petroleum Corporation (EGPC), currently produces 55,000 barrels of oil equivalent per day from the Egyptian Western Desert. AGIBA owns 100 percent of the East Obayed Concession. Eni has been present in Egypt since 1954, where it is the main producer with approximately 320,000 barrels of oil equivalent per day equity. Such production is expected to further grow within the year, thanks to the ramp-up of the Zohr field.
