Yet more gas for Eni in Egypt

Yet more gas for Eni in Egypt

Editorial Staff
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The new discovery, which confirms the potential of the so-called "Great Nooros Area," was found via the Baltim South West 1X well, in an offshore area 12 km off the coast and at a depth of 25 m

Eni made a new significant gas discovery in the Baltim South West exploration prospect, located in the Baltim South license, in the conventional waters of Nile Delta, offshore Egypt. This new discovery, achieved through the Baltim South West 1X well, is located 12 km from the coast, at a water depth of 25 m and 10 km North of the Nooros field, discovered in July 2015. Nooros field already reached in May a production of 65,000 barrels of oil equivalent (boe) per day and is expected to reac 120,000 boe/d by yearend 2016. The Baltim South West 1X well penetrated approximately 120 m of  gross gas column and  62 m of net pay sandstones of the Messinian age with excellent reservoir  properties. The Baltim South West discovery, further confirms the significant potential of the so called "Great Nooros Area," which is now estimated to hold 70-80 bcm of gas in place. Eni is already assessing the options for the fast track development of this new find, which like that of Nooros, will exploit solutions able to accelerate the production start-up, through the maximum synergy with the existing infrastructures already present in the area. This further discovery is a new success of eni’s "near field" exploration strategy, in the country aiming on high value opportunities, able to guarantee the rapid delivery of new gas production to the Egyptian market. In parallel with the appraisal and development activities, Eni will also continue exploring the "Great Nooros Area," with the drilling of 2 other wells. Eni, through its subsidiary IEOC, holds a 50% stake in the Baltim South license, while BP holds the remaining 50% stake. The operator is Petrobel, an equal joint venture between IEOC and the state run Egyptian General Petroleum Corporation (EGPC). Eni has been present in Egypt since 1954, where it operates through IEOC Production BV. The equity production in the country in 2015 was 200 thousand boe/d.