Eni: More oil discovered near Sidri South find in Egypt's Gulf of Suez

MENA , Friday 25 Oct 2019

File Photo: Eni's logo is seen in front of its headquarters (Photo: Reuters)

Eni announced on Friday the discovery of new resources in the Abu Rudeis Sidri development lease in the Gulf of Suez, where the operating company Petrobel, owned by Eni and by the Egyptian General Petroleum Corporation (EGPC).

The Sidri 36 appraisal well, drilled to assess the westward extension of July’s Sidri discovery, encountered a significant hydrocarbon column, the Italian company said in a press release. 

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, Eni said. 

The Sidri South discovery, estimated to contain about 200 million barrels of oil in place, will be reassessed following these new results, it added.

Eni has overall investments of $13 billion in Egypt.

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