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MeneameThe Sipetrol international operations subsidiary of Chile's state oil company Enap has made its fourth oil discovery in Egypt's western desert basin, Enap said in a statement.
The Rawda-1 exploratory well in the North Bahariya block showed reserves of 38 API crude with production of 360 barrels a day (b/d) at a depth of about 3,000 meters.
Sipetrol and its partners signed a development license for the Ferdaus, Ganna and Abrar (NB-1X) fields on June 1, 2004. Egypt's state oil company EGPC has approved the production plans and production is expected to start by year-end.
The block is being explored by a consortium of Sipetrol (50% and operator), the US's IPR (30%) and Croatia's INA (20%).
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