Eni of Italy on Thursday said it has made a new discovery in the Baltim South West exploration prospect, located in the Baltim South license, in the Nile Delta, offshore Egypt.
This new discovery, achieved through the Baltim South West 1X well, is located 12 kilometers from the coast, in 25 meters of water depth and 10 kilometers North of the Nooros field, discovered in July 2015, Eni said in its statement.
Nooros field already reached a production of 65.000 barrels of oil equivalent per day in May and is expected to reach 120.000 boe/d by year end.
The new discovery penetrated approximately 120 meters of gross gas column and 62 meters of net pay sandstones, Eni added. With the new well, the Great Nooros Area is now estimated to hold 70 to 80 billion cubic meters of gas in place.
Eni added it is looking to expedite the development of the new find and start the production. Together with further appraisal the company will continue exploring the Great Nooros Area with additional two wells.
Eni, through its unit IEOC holds a 50 percent stake in the Baltim South license with BO holding the remaining 50 percent. The license is operated by Petrobel, a joint venture between IEOC and the state company Egyptian General Petroleum Corporation (EGPC).