Agiba Petroleum Company, a joint venture between the Egyptian Petroleum Company (EGPC) and the Italian energy giant Eni, has increased the production rates from its Iris and Arcadia West areas in the Western Desert to 12,000 barrels of oil equivalent per day (boe/d ), thanks to the Iris-5 well beginning operation, adding 2,000 barrels per day (b/d).
The Ministry of Petroleum and Mineral Resources (MoMPR) noted that the use of advanced technologies, including 3D seismic surveying, has opened new opportunities for exploration in the Western Desert. This has helped maximize the potential of the Masajid geological formation, increasing production of the Iris and Arcadia West fields. The ministry stated that these results challenge traditional concepts about the Masajid geological formation, which was previously known to have low rock permeability that restricted production from conventional vertical wells.
Agiba Petroleum also announced the Durra well discovery in the same geological formation, where drilling has shown positive oil indicators. The Durra well is currently being prepared for production. This discovery shows that promising geological formations extend into previously unexplored areas, opening the door for new drilling and production.
In July, Agiba Petroleum brought the Arcadia-28 well online. This well, which targets the Masajid Carbonate formation, was commissioned after an acid stimulation operation. The Arcadia-28 well is currently producing approximately 4,100 boe/d, a significant addition to Agiba’s overall production.
