Agiba tests oil well on Egypt's Meleiha block

Agiba Petroleum, operator of the Meleiha block in Egypt's Western Desert, has tested 1,000 b/d of dry crude oil from its exploration well in the Gawaher structure on the block.

Sept. 20, 2007

Uchenna Izundu
International Editor

LONDON, Sept. 20 -- Agiba Petroleum, operator of the Meleiha block in Egypt's Western Desert, has tested 1,000 b/d of dry crude oil from its exploration well in the Gawaher structure on the block. Production is expected to increase to 1,500 b/d.

"Appraisal of drilling results, adjustment of the field reserves, further drilling-out, and development of field infrastructure is presently going on," said Lukoil Overseas, a partner in the project.

More than 17 million tonnes of oil has been produced on the block during the last 30 years. The operating well stock is 141 units, 12 of which were drilled since the beginning of this year and are producing a combined 3,200 b/d.

In April, the Egyptian parliament ratified the extension of the concession agreement on Meleiha Block to 2024 (OGJ Online, Apr. 13, 2007).

Agiba Petroleum is a joint venture of Egyptian General Petroleum Corp., Eni subsidiary IEOC Production, and International Finance Co. Production-sharing contract interests are held by IEOC 56%, Lukoil 24%, and IFC 20%.

Contact Uchenna Izundu at [email protected].