Eni SpA (E),
Italy
's
biggest energy company by market value, Thursday said it made a
"significant" oil discovery in the
Egyptian
Western
Desert
, as
it refocusing its local activities in the area.
In a statement, Eni said the discovery was made in the Emry Deep exploration
prospect, located in the Meleiha concession, and it now estimates between 150
million and 250 million barrels in place.
The Rome-based company said it will carry out further appraisal drilling.
"This result confirms that the Meleiha concession still holds significant
untapped deep exploration potential," it said.
Eni owns a 56% stake in the Meleiha concession, while Lukoil Holdings (LKOH.RS)
has a 24% stake and Mitsui & Co. (8031.TO) the remaining 20%.