(MENAFN- Daily News Egypt) Egypt's Ministry of Petroleum and Mineral Resources has announced a new oil and gas discovery in the Western Desert, following the successful drilling of the exploratory well North Lotus Deep-1, operated by Agiba Petroleum in partnership with Italy's Eni.

According to the ministry, the well is contributing around 1,835 barrels of crude oil and 7 million cubic feet of gas per day, equivalent to 3,100 barrels of oil equivalent (BOE). The reserves are estimated at approximately 5 million BOE, and the output has already been integrated into the production map.

The ministry stressed that the discovery underscores the Western Desert's status as a promising hub for oil and gas opportunities and a key destination for international investment. It also aligns with Egypt's strategic objective of gradually increasing domestic energy production and reducing reliance on imports.

This announcement follows another breakthrough at Agiba's Western Desert operations, where teams, in collaboration with Eni, achieved production from one of the region's most complex geological formations. At depths exceeding 11,000 feet and with low rock permeability, the formation had previously restricted production from conventional vertical wells.

By deploying advanced horizontal drilling techniques for the first time in the Western Desert, Agiba succeeded in unlocking significant resources at the North Rosa field, boosting output by 7 million cubic feet of gas per day and 550 BOE per day. The achievement represents a sixfold increase in productivity from this formation, opening the door to replicating the model across the basin and tapping further petroleum potential.

During Agiba's general assembly meeting, Chairperson Tharwat El-Gendy reviewed the company's operational results, reporting investments of $404m during the year. He noted that the company sustained stable production levels, averaging more than 26,000 barrels of crude oil per day and 77 million cubic feet of natural gas per day-equivalent to over 40,000 BOE per day in total.

El-Gendy added that these production rates were achieved through the drilling of 28 development wells and two exploratory wells. He also highlighted the commissioning of a new produced water treatment plant, which enabled the company to reinject all associated water into depleted reservoirs-described as a milestone environmental achievement.

On his part, Francesco Gaspari, Chairperson of IEOC Production (Eni's Egyptian subsidiary), reiterated the company's confidence in the Western Desert's untapped potential. He stressed Eni's commitment to expanding its operations in the region, noting that unlocking the productivity of the Measged Formation would pave the way for further discoveries and long-term growth.

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