SEATTLE (Oil Monster): Agiba Petroleum Company has recorded its strongest crude oil production level in three years, reaching nearly 32,000 barrels per day in December, following an accelerated drilling program and sustained capital inflows from Italian energy major Eni, Egypt’s Ministry of Petroleum and Mineral Resources reported.
The performance supports the government’s broader plan to expand hydrocarbon output in the Western Desert by fast-tracking discoveries, deploying advanced seismic technologies, and maximizing recovery from existing fields.
One of the key contributors has been the Iris-1XST discovery well, which has delivered cumulative output of roughly two million barrels of oil and 4.8 billion cubic feet of natural gas since entering production in October 2024. In addition, development of the Masajid formation in two recently drilled wells is now generating close to 12,000 barrels of oil equivalent per day.
Agiba has also advanced operations in the South West Meleiha area, drilling six shallow wells over the last year and a half that add about 2,800 barrels per day. Alongside this, the company completed ten wells, including Arcadia and Iris prospects, as part of its ongoing drilling drive.
The EGPC–Eni joint venture averaged more than 26,000 barrels per day of crude and 77 million cubic feet per day of gas in 2024, lifting total production above 40,000 boe/d.
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