Egypt’s Ministry of Petroleum and Mineral Resources announced that Agiba Petroleum Company, the joint venture between the Egyptian General Petroleum Corporation and Eni S.p.A., has achieved its largest Western Desert discovery in approximately 15 years.
The discovery was made through the exploratory well “Bustan South 1X,” drilled using the EDC-9 rig operated by Egyptian Drilling Company. Initial estimates indicate reserves of around 330 billion cubic feet of natural gas alongside 10 million barrels of condensates and crude oil, equivalent to roughly 70 million barrels of oil equivalent.
Officials said the discovery carries additional strategic importance due to its proximity — approximately 10 kilometres — to existing production facilities and infrastructure, allowing for potentially faster development and lower production costs through rapid integration into current operating networks.
The ministry added that the discovery supports Egypt’s strategy of prioritising exploration near existing infrastructure in order to accelerate production, improve operational efficiency, reduce development costs, and strengthen domestic energy supplies.
The well revealed multiple sandstone and limestone reservoirs with a net productive thickness estimated at around 400 feet, reinforcing the commercial and operational significance of the find within Egypt’s Western Desert energy portfolio.
