Wednesday, 28 July 2010

Eni begins onshore production from Arcadia field

Eni has begun oil production from Arcadia field, in the western desert of Egypt, 45 days after its discovery. The Arcadia 1X well, located in Meleiha concession has been put into production from the Alam El Bueib formation with the nearby operated facilities of Meleiha.

Eni owns 56 per cent participating-interest in the Meleiha concession, through its fully owned affiliate Ieoc, with the remainder owned by LUKOIL and Mitsui, 24 per cent and 20 per cent respectively. The operator of Arcadia project is a joint venture owned equally by Ieoc and the Egyptian General Petroleum Corporation (EGPC).

Eni has stated that in order to fully develop the new discovery, it will drill four more wells in 2010 and 2011, expected to produce up to 3000 b/d. The drilling of the Arcadia 1X well is expected to significantly increase Eni's equity production, estimated at 230 kb/d in 2009.

To find out more about Eni please visit Eni's web site, which you can find here.

For more news and expert analysis about Egypt, please see Egypt Politics & Security.

© 2010 Menas Associates

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