Agiba invests $3 million in the Western Desert

Agiba Petroleum Company successfully drilled a new exploratory well, Zarif-1X, located south in the Meleiha field, onshore the Western Desert.

Agiba invested $3 million for this drilling operation, which was held through the Sino Tharwa-8 rig.
The Zarif-1X was drilled to a total depth of 10000 cubic feet.

Agiba is the joint venture between Eni SPA with 56%, Lukoil Overseas 24% and the International Finance Company (IFC) with 20%, with the state-owned Egyptian General Petroleum Corporation (EGPC) holding the remaining 50%.



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