Agiba: Successful Discovery and Fast-Track Development of Iris Field in Egyptian Western Desert producing 8,500 boed s
Agiba, together with its shareholders, has successfully achieved fast-track development of the Iris Field, a new hydrocarbon play in Egyptian Western Desert. The discovery, made in the Masajid Formation, a Late Cretaceous carbonate reservoir, marks a significant milestone in Agiba’s near-field exploration strategy.
This achievement was made possible by newly acquired state-of-the-art 3D seismic survey, processed in Eni HQ leveraging on cutting-edge proprietary technology and promptly interpreted through cross-functional approaches by Agiba teams focused on seismic attributes and reservoir characterization.
The distinctive ability of Agiba’s shareholders to rapidly bring discoveries to production has been demonstrated once again: the Iris Field, located nearby to existing facilities, was immediately connected to the gathering network, achieving an exceptional time-to-market, reinforcing the near-field exploration strategy able to generate quick payback and to demonstrate the efficiency of this approach.
The field is currently being developed through three production wells ensuring a stable output of 8,500 boed with an upstanding ramp-up in less than four months. An infill drilling campaign is already planned, with additional wells ready to be drilled in the upcoming weeks, identified through seamless integration of exploration and reservoir asset teams.
Looking forward, Iris Field represents a proof of concept for the success of this geological play. Encouragingly, further additional Iris-like prospects have already been identified and are being thoroughly evaluated, highlighting further potential within the asset.
Agiba, together with its shareholders, remain committed to generating new “out-of-the-box” geological concepts in Western Desert, leveraging their advanced technologies, fast-track development and the determination of their people to maximize hydrocarbon potential in Egyptian Western Desert.
