Arab Finance: Agiba Petroleum Company has increased the daily production from the Iris and Arcadia West areas in the Western Desert to 12,000 barrels of oil equivalent (BOE), according to a statement.

The Ministry of Petroleum and Mineral Resources highlighted that this achievement followed putting the Iris-5 well on production recently at a rate of 2,000 barrels per day.

This aligns with the ministry’s partnership with Italian company Eni to apply the latest technologies supported by 3D seismic surveying to open new horizons for exploiting the potential of the Western Desert.

This collaboration has contributed to maximizing the benefit from the geological formation and resulted in the discovery of the Iris and Arcadia West fields, expanding the production, and transforming previous traditional concepts regarding this geological formation.

Agiba also succeeded in making the Durra discovery, where drilling operations have proven successful petroleum evidence in the same formation. Meanwhile, the well is being put into production.

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