CAIRO, 27th August, 2025 (WAM) – The exploration operations in the North Lotus Deep-1 well in Egypt's Western Desert yielded positive results, and it will add about 1,835 barrels of crude oil per day (b/d) and 7 million cubic feet of natural gas daily (mcf/d), which is equivalent to 3,100 barrels of oil equivalent (boe), according to a press release by the Ministry of Petroleum and Mineral Resources (MoPMR).
With estimated reserves of about 5 million (boe), the new, which belongs to Agiba Petroleum Company, a joint venture between the Egyptian General Petroleum Corporation (EGPC) and Italy’s Eni, has already been put on the production map.
However, thanks to advanced horizontal drilling technologies, a breakthrough was achieved for the first time in the Western Desert at the North Rosa field. The result: a daily addition of approximately 7 million cubic feet of gas and 550 barrels of oil equivalent from this formation—a sixfold increase compared to conventional production rates, the ministry added.
Tharwat El Gendy, Agiba’s Chairman, noted that the company’s investments in 2024/2025 came at $404 million, adding that it maintained stable production rates, with an average output of more than 26,000 b/d of crude oil, while the average natural gas production was 77 mcf/d, bringing the total to more than 40,000 boe/d.
Meanwhile, Francesco Gaspari, President of the International Egyptian Oil Company (IEOC), ENI’s subsidiary in Egypt, expressed Eni’s belief that the Western Desert has exceptional potential. He affirmed the company’s commitment to expanding its projects in this promising region and noted that unlocking the potential of the Masajid formation will pave the way for more similar success stories.