Eni Flags Libyan Offshore Gas Find

Eni said April 5 it has made a new gas and condensate discovery in the Gamma prospect, 140 km offshore Libya's capital Tripoli, with a well capable of producing over 7,000 boe/d.

Gamma prospect is in Contract Area D, which Eni operates with a 100% interest in the exploration phase. The discovery, made through the well B1 16/3, is 15km south west of the Bouri field and 5km north of the Bahr Essalam field, the company added.

The well, drilled in 150 metres of water depth, reached a total depth of 2,981 metres and encountered gas and condensates in an Eocene age reservoir. Eni says it has capacity to produce in excess of 7,000 barrels of oil equivalent per day. It follows discoveries by Eni nearby in 2015. 

Drilling of the Gamma prospect is part of Eni's 'near field' exploration strategy, targeting opportunities that if successful can exploit synergies with existing infrastructures reducing the time to market and providing additional gas to the local market and export. 

Eni currently has 350,000 boe/d net equity production in Libya. This includes offshore gas, produced jointly with Libyan state NOC, that is processed at Melitah and then exported via the Green Stream pipeline to Italy. 

In a statement April 4, NOC said the latest discovery well produced at rates of 8-10mn ft³/d gas and 760 to 800 b/d of light condensate of 58-59^o API.

At its March 1 strategy presentation in London, Eni said it was on target to produce first gas from its Bahr Essalam phase 2 development in 2H2018, which it expects to yield 70,000 boe/d net to Eni at peak. 

Mark Smedley