Eni inks agreement for exploration block in Egypt's Western Desert

Eni inks agreement for exploration block in Egypt's Western Desert

MILAN, Italy -- Eni has signed a new Concession Agreement to operate in the South-West Melehia Block in the Western Desert of Egypt, following the Egyptian General Petroleum Corporation (EGPC) 2013 international competitive bid round.

South-West Melehia is operated by Eni through its subsidiary IEOC, which holds a 100% stake. The block covers an area of 2,058 sq km and is located immediately south of the Melehia license, operated by Agiba, a joint venture of IEOC and EGPC, which manages Eni’s operations in the Western Desert.

This new acquisition adds to the list of exploration successes achieved in the area over the past two years and further strengthen Eni’s position in Egypt, an area of historic and strategic importance for the company.

Eni has been present in Egypt since 1954 and is the main producer of oil in the country, with an equity of approximately 210,000 boed.