Agiba Petroleum Company has reported strong gains in oil and natural gas production, supported by intensified drilling and exploration activity carried out in partnership with Italian energy major Eni.

Agiba Petroleum Company has increased the daily production in the Iris and Arcadia West areas in the Western Desert to 12,000 barrels of oil equivalent (BOE)

Agiba Petroleum Company successfully commissioned the Arcadia-28 well, resulting in a daily production rate of approximately 4,100 barrels of oil equivalent (BOE)

Agiba Petroleum Company, a joint venture (JV) between the Egyptian General Petroleum Corporation (EGPC) and Italy’s Eni, discovered a new field of Arcadia West in the Western Desert.

Minister of Petroleum and Mineral Resources Karim Badawi has reviewed Agiba Petroleum Company’s plans and latest developments in oil and gas exploration and production.

The Egyptian General Petroleum Corporation (EGPC) and Ieoc Exploration BV, an Eni affiliated company, announced a total daily production exceeding 110,000 barrels of petroleum liquids through their joint ventures, Belayim Petroleum Company (Petrobel) and Agiba Petroleum Company.

Agiba Petroleum Company has successfully cooperated with the Egyptian General Petroleum Corporation (EGPC) and the Italian energy giant Eni in accelerating the development of the Iris field in Egypt’s Western Desert.

Agiba Petroleum Company has invested around $417 million during the elapsed fiscal year (FY) 2023/2024, Chairman Tharwat El Gendy announced during the company’s general assembly.

Eni has announced that three drilling rigs for Agiba Petroleum Company will begin operations in the second week of September, as per a statement.