Eni completes first appraisal well of Zohr discovery in Egypt

2/26/2016

MILAN -- Eni successfully drilled the Nidoco North 1X well, in the exploration prospect of Nooros East, located in the Abu Madi West license, in the Nile Delta, Egypt. The new find start up is expected by the end of March 2016 and will allow the Nooros area, which started production in September 2015, just two months after the initial Nooros discovery, to reach a production of approximately 45,000 boed. Eni, through its subsidiary IEOC, holds a 75% stake in the concession of Abu Madi West, while BP holds a 25% stake.

By the middle of 2016, with the addition of new development wells, the production capacity will increase to over 60,000 boed. The gas and condensates produced are sent to the Abu Madi treatment plant, about 25 km from the discovery, and then routed to the Egyptian network.

Nidoco North 1X well, similarly to Nooros’ last discoveries, was drilled from onshore as a deviated well to the Nooros East field in the offshore shallow waters. The well encountered over 43 m of net gas and condensates bearing sandstone layers of Messinian age with excellent petrophysical properties.

In parallel with the field development, Eni will continue its exploration activities in the license area, where significant additional potential has been identified which will be tested through the drilling of further two exploration wells.

This new discovery, with immediate return of production capacity, is the result of Eni’s near field exploration strategy targeting high value activities able to grant the rapid development of discoveries through existing infrastructures.

Eni also completed the drilling of the Zohr 2X well, the first appraisal well of the Zohr discovery. The well, drilled in the Shorouk block where Eni, through IEOC, holds a 100% share, is located 1.5 km southeast from Zohr 1X and down-dip of it, on the flank of the Zohr’s structure, in a water depth of 4,800 ft.

Zohr 2X well was drilled up to 13,684 ft (4,171 m) and encountered 1,614 ft (455 m) of continuous hydrocarbon column in a carbonate sequence with excellent reservoir characteristics (305 m net pay). The comprehensive formation evaluation program confirmed the same gas-water contact and connection with the discovery well showing Zohr as a single and continuous mega tank of natural gas, fully comprised in the Egyptian Exclusive Economic Zone (EEZ) and within the Shorouk Block. Eni is arranging all the activities for the execution of the well production test.

The appraisal plan envisages the drilling of three further wells to fully delineate the field which holds a potential of up to 30 Tcf of lean gas in place (5.5 Bboe in place).

Recently Eni announced the completion, with the Egyptian authorities, of the approval process for the development of Zohr field.

In both licenses, operations are being conducted by Petrobel, which is a JV between IEOC and the State partner Egyptian General Petroleum Corporation (EGPC).

Eni has been present in Egypt since 1954, where it operates through IEOC Production BV. The equity production in the country was in 2015 about 200,000 boed.

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