The Ministry of Petroleum and Mineral Resources in Egypt announced that Agiba Petroleum Company has achieved a new gas discovery in the Western Desert, which is considered the largest for the company in 15 years.
The Ministry explained that the discovery was made through the “Bostan South 1X” exploratory well, which was drilled using the Egyptian Drilling Company’s “EDC 9” drilling rig. Initial estimates indicate that the well contains about 330 billion cubic feet of gas, in addition to 10 million barrels of condensates and crude oil, with total reserves estimated at about 70 million barrels equivalent.
The Ministry stressed that the importance of the discovery is also due to its proximity to the existing infrastructure and production facilities, as it is only about 10 kilometers away, which contributes to accelerating development processes and linking it to production within a short period.
Drilling results also showed the presence of several sandstone and limestone reservoirs with a net productive thickness of 400 feet, which enhances the economic and productive feasibility of the new discovery.
