Eni announces light oil discovery from South Meleiha concession

Eni announces light oil discovery from South Meleiha concession: Eni announced yesterday (pdf) that it has made a light oil discovery at its second exploratory well in its South Meleiha concession in the Western Desert’s Faghur Basin. The asset has already begun production at 5,130 bopd. “The discovery on B-1X confirms the high exploration and production potential of deep geological sequences of the Faghur Basin,” the company said, adding that it plans to soon begin “the drilling of other exploratory prospects located nearby … to consolidate what can result as a new productive area of Eni in Egypt.” Output is expected to be shipped to El Hamra terminal using existing infrastructure once the Oil Ministry signs off on the project’s development plan. Eni had announced in May making an oil discovery at another well in the Faghur Basin that delivers 2,300 bopd of light oil.