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Eni affiliate finds new resources in offshore Sidri South prospect

Eni SpA affiliate Belayim Petroleum Company, or Petrobel, found new resources in the Abu Rudeis Sidri development lease located in Egypt's Suez Gulf through an appraisal well in the offshore Sidri South prospect. Petrobel is a joint venture between Eni and the Egyptian General Petroleum Corp.

The Sidri 36 appraisal well encountered 200 meters of a hydrocarbon column, according to an Oct. 25 news release.

The results will help in the reassessment of the Sidri South discovery, which is estimated to contain around 200 million barrels of oil in place.

Upon completion, the well is expected to have an initial flow rate of about 5,000 barrels per day and will use nearby existing infrastructure.

Eni said it is the largest producer in Egypt, with a net production in the country totaling 350,000 barrels of oil equivalent per day.

Eni subsidiary Ieoc Production BV and the Egyptian General Petroleum each hold a 50% stake in the Abu Rudeis Sidri development lease.