Egypt Ministry of Petroleum and Mineral Resources announced that Agiba Petroleum Company, a joint venture between the Egyptian General Petroleum Corporation and Eni, has recorded its largest oil and gas discovery in the past 15 years in Egypt’s Western Desert.

According to the ministry, the discovery was made through the exploratory well “Bastan South 1X,” drilled using a rig operated by the Egyptian Drilling Company.

Preliminary assessments estimate the discovery contains around 330 billion cubic feet of natural gas and 10 million barrels of condensates and crude oil, bringing total recoverable reserves to an estimated 70 million barrels of oil equivalent.

Officials said the discovery’s strategic importance is enhanced by its proximity — approximately 10 kilometers — to existing production facilities and infrastructure, allowing for fast-track development and integration into current operations.

Drilling results identified multiple sandstone and limestone reservoirs with a net productive thickness of about 400 feet, underscoring the field’s strong production and economic potential.

The ministry added that the discovery highlights the success of ongoing efforts to expand exploration activity, supported by incentives introduced to encourage partners to intensify drilling and research operations in areas surrounding existing fields. -OGN/TradeArabia News Service