Egypt: The Ministry of Petroleum and Mineral Resources has reported a significant gas discovery in the Western Desert by Agiba Petroleum Company, a joint venture between the Egyptian General Petroleum Corporation and Eni. The discovery is the largest the company has made in the past 15 years.

According to Emirates News Agency, the discovery was made at the “Bastan South 1X” exploratory well, drilled by the Egyptian Drilling Company. Initial estimates suggest the site holds reserves of approximately 330 billion cubic feet of gas and 10 million barrels of condensate and crude oil, totaling an estimated 70 million barrels of oil equivalent.

The Ministry underscored the strategic importance of this discovery, highlighting its proximity-just 10 kilometers-to existing facilities and infrastructure. This advantageous location is expected to facilitate the rapid development and integration of the new reserves into production operations.

The Bastan South 1X well tapped into several sandstone and limestone reservoirs, boasting a net productive thickness of 400 feet. This finding is not only economically significant but also underscores the potential for substantial production yields.

The Ministry emphasized that this discovery is a testament to the success of its efforts and the incentives provided to partners to intensify exploration activities in regions contiguous to existing fields.