Cairo – Mubasher: Italy's Eni on Thursday unveiled a new gas discovery in Egypt’s Obayed concession in the Western Desert.
The Italian energy giant has initiated studies aimed at developing the discovered gas reserves to increase the Egyptian output, according to a company statement.
“The discovery well has reached the target depth of 17,000 feet and encountered several gas-bearing layers in the Kathabta sandstones of Jurassic age,” Eni revealed.
AGIBA, a joint venture between the Italian Egyptian Oil Company (IEOC), a subsidiary of Eni, and the Egyptian General Petroleum Corporation (EGPC), produces 55,000 barrels of oil equivalent per day from the Western Desert fields.
