Italy’s Eni said Monday it made a “significant” gas and condensate discovery at its B1-16/4 well in offshore Libya.
The well was drilled at Area D in the Bahr Essalam South exploration prospect, about 50 miles off Libya’s coast.
Well B1-16/4 was drilled to a water depth of 490 feet and encountered gas and condensates of Eocene age in the Metlaoui Formation, Reuters said.
The well produced 29 million cubic feet per day of gas and over 600 barrels per day of condensate during a production test.
Eni said the well could eventually produce over 50 million cubic feet of gas per day and 1,000 barrels of condensate per day.
The proximity of well B1-16/4 to Eni’s producing Bahr Essalam field could pave the way for a speedy development of the discovery, Eni said.
The company also said it finished post-drilling studies at its Merakes-1 deepwater discovery at the East Sepinggan block in offshore Indonesia.
Eni said the results show “significant upside potential” with estimated gas in place reserves of 2 trillion cubic feet, up from initial estimates of 1.3 trillion cubic feet.