San Donato Milanese (Milan)
Eni announces that the cumulative oil production of AGIBA, the operating joint venture company between Eni’s subsidiary IEOC Production BV and Egyptian General Petroleum Corporation (EGPC), has reached 500 million barrels today.
AGIBA is active since 1981 with operations mainly focused in Eni’s oil and gas concessions located in the Western Desert Area of Egypt, where the recent effort towards new exploration and development activities has brought to unprecedented results.
In particular, thanks to the development of a number of new discoveries such as Rosa North, Emry Deep and Melehia West Deep within existing conventional asset, AGIBA, leveraging on its operated infrastructures has been able to produce and valorize oil resources amounting to around 110 MMbbls in the latest 5 years, thus reaching the target of 500 MMbbls as oil cumulative production.
AGIBA is active since 1981 with operations mainly focused in Eni’s oil and gas concessions located in the Western Desert Area of Egypt, where the recent effort towards new exploration and development activities has brought to unprecedented results.
In particular, thanks to the development of a number of new discoveries such as Rosa North, Emry Deep and Melehia West Deep within existing conventional asset, AGIBA, leveraging on its operated infrastructures has been able to produce and valorize oil resources amounting to around 110 MMbbls in the latest 5 years, thus reaching the target of 500 MMbbls as oil cumulative production.
