Eni has discovered resources in the Abu Rudeis Sidri development lease in the Gulf of Suez, where operating company Petrobel, equally held by Eni and by the Egyptian General Petroleum Corporation (EGPC), drilled an appraisal well following the discovery of Sidri South.
The Sidri 36 appraisal well, drilled to assess the field continuity westward in a down dip position with respect to Sidri-23 discovery well, encountered an important hydrocarbon column in the clastic sequences of the Nubia Formation (200 meters of hydrocarbon column).
This continues Eni's positive track record in "near field" exploration in Egypt. In a press release, Eni noted that this demonstrates how the use of new play concepts and advancements in technology has allowed the company to re-evaluate potential reserves.
The well will be completed and put into production in the next few days with an expected initial flow rate of about 5,000 barrels per day. Petrobel immediately conceived a rapid development plan for the new discovery with a "fast-track" approach, leveraging on existing infrastructures in the vicinity of the well and maximizing facilities synergies; this strategy will be applied also in future activities in the Sidri area with the next delineation and development wells connected to the production in a short time.
The Sidri South discovery, which is estimated to contain about 200 million barrels of oil in place, will be reassessed following these new results.
Eni has been present in Egypt since 1954 where it’s the country leading producer. The current equity production is around 350,000 barrels of oil equivalent per day. Such production is expected to further grow within the year, thanks to the Zohr gas field and to the Baltim SW field ramp-up.