Eni Announces New Discovery in North El Hammad Concession in Egypt

Eni (as the Operator of the Block), bp and Total (as Contractor members) have successfully tested the well drilled on the prospect called Bashrush, in the North El Hammad concession, in the conventional Egyptian waters of the Nile Delta.

The well has been opened to test potentiality of production, and it delivered up to 32 MMscfd of gas. The test rate was limited by surface testing facilities. The well deliverability in production configuration is estimated at up to 100 MMscf of gas and 800 barrels of condensate per day.

Eni, together with its partners bp and Total and in coordination with Egyptian Natural Gas Holding Company, will continue screening the development options of Bashrush, with the aim of fast tracking production through synergies with the area's existing infrastructures.

In the North El Hammad concession, which is in participation with the Egyptian Natural Gas Holding Company (EGAS), Eni through its affiliate IEOC holds 37.5% interest and the role of Operator, bp holds the 37.5%, and Total holds the 25% of the contractor share.

Eni has been present in Egypt since 1954, where it operates through IEOC Production. The current equity production of IEOC is above 300,000 boepd.

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