An official with Agiba Petroleum informed Egypt Oil&Gas that the company has drilled a new exploratory well Melieha 101 in the Melieha Concession, located in Western Desert of Egypt. The discovery has an estimated 10mb of oil in place with the possibility of increasing after the drilling process is complete.
The drilling process showed that the field has crude oil in the strata with 25,000ft depth which is considered as the first time to reach this in the concession due to the electronic records. The tests of the well resulted into the existence of 2,400b/d of crude oil which encouraged the foreign partner to increase investments. The company’s official further added that Agiba is performing the required studies with the foreign partner in order to link the new discovery to production as soon as possible.
Moreover, Agiba Petroleum is interested in development projects and in applying new technologies, as well as training technical and managerial talents in order to boost the performance across the different departments and fields of the company with a goal to contribute in covering the Egyptian oil and gas demands.