Arab Finance: The Ministry of Petroleum and Mineral Resources announced the successful drilling of the "North Lotus Deep-1" exploratory well, operated by Agiba Petroleum Company in partnership with Italy’s Eni, in Egypt’s Western Desert, as per a statement.

The well produces about 1,835 barrels of crude oil and 7 million cubic feet of gas per day, equivalent to 3,100 barrels of oil equivalent.

It has already been added to the production map, with reserves estimated at nearly 5 million barrels of oil equivalent.

The discovery marks the first horizontal exploratory well in Agiba’s history and opens new horizons for expanding oil and gas exploration in the Western Desert.

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