Agiba Petroleum Company has achieved its highest crude oil output in three years at around 32,000 barrels per day (bbl/d) in December, thanks to the intensified drilling and investments from its Italian partner Eni, according to the Ministry of Petroleum and Mineral Resources (MoPMR).

The results align with the ministry’s strategy to boost output and exploration in Egypt’s Western Desert through discoveries and advanced seismic surveys.

The Iris-1XST discovery well has produced cumulatively two million barrels of oil and 4.8 billion cubic feet (bcf) of natural gas since October 2024.

Recent exploitation of the Masajid geological formation in Agiba’s latest two wells yields about 12,000 barrels of oil equivalent per day (boe/d). Agiba also launched well development in South West Meleiha, drilling six shallow wells over the past 18 months that contribute around 2,800 bbl/d.

Also, Agiba drilled 10 wells, including Arcadia 27-ST, Arc 28, and multiple Iris wells. This comes in parallel with the continuation of an ambitious drilling campaign.

Agiba Petroleum Company, a joint venture (JV) between the Egyptian General Petroleum Corporation (EGPC) and Eni (which holds a 38% stake through Agiba), operates key concessions in the Western Desert’s Meleiha area. Agiba achieved average crude oil production exceeding 26,000 bbl/d in 2024 alongside 77 million cubic feet per day (mcf/d) of natural gas, totaling more than 40,000boe/d.