Eni finds more oil near Sidri South find in Egypt's Gulf of Suez

Eni said Friday it has made a new oil discovery offshore Egypt that will boost the resources at the Italian major's recent Sidri South find in the Gulf of Suez.

The Sidri 36 appraisal well in the Abu Rudeis Sidri lease encountered a 200 meters of hydrocarbon column while assessing the westward extension of this year's Sidri discovery well.

The new find is expected to be put into production in the next few days with an expected initial flow rate of about 5,000 b/d, Eni said.

Operated by Petrobel, a joint operating venture equally held by Eni and the Egyptian General Petroleum Corporation (EGPC), the Sidri South find was announced in July. The discovery was brought online with existing production infrastructure in the vicinity of the well.

"This new and important result continues the positive track record of the 'near field' exploration in Eni's historical concessions in Egypt," Eni said in a statement.

Eni said the Sidri South discovery, which is estimated to contain about 200 million barrels of oil in place, will now be reassessed following the new results.

Source: spglobal.com