Eni an Italian multinational oil and gas company said on friday it signed a new concession agreement to operate in the South-West Melehia block in the Western Desert of Egypt, following the Egyptian General Petroleum Corporation (EGPC) 2013 international competitive bid round.
"South-West Melehia is operated by Eni through its subsidiary IEOC, which holds a 100% stake", the company added in a statement .
The block covers an area of 2,058 square kilometers and is located immediately south of Melehia license, operated by Agiba, a joint venture of IEOC and EGPC which manages Eni’s operations in the Western Desert , Eni explained .
Eni has been present in Egypt since 1954 and is the main producer of oil in the country, with an equity of approximately 210,000 boed.
