Consortium including LUKOIL discovers a new oil field in Egypt

An exploration well drilled in the prospect encountered a total oil pay of about 80 meters in multiple sandstone reservoirs at the depth of over 2,200 meters. Well tests resulted in a commercial flow of oil. At least two development wells will be drilled on the field this year, the production of each well is projected to be 2,000 barrels of oil per day.

Rosa North is the third discovery made on the concession over the last three years and follows Arcadia (2010) and Emry Deep (2012) fields. The concession still holds significant resource potential which is confirmed by the growing production, exploration drilling results as well as recently acquired 3D-seismic data and the new geological model derived from it.

Project partners are ENI through its subsidiary IEOC (56%), LUKOIL Overseas (24%) and Mitsui (20%). LUKOIL joined the project in 1995. More than 1.2 million tons of oil were produced on Meleiha in 2012 (LUKOIL's share was 71,000 tons).

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