During May 2020, Agiba Petroleum P&A its Karm 1X exploration well, located on the Meleiha development lease (DL) of the Meleiha PSC. No further details are available. The well followed on from the drilling of the Tala 1X near-field exploration well in Q4 2019. It reached 3,461m TD in the Jurassic Masajid Formation, with oil shows reported. Tala 1X was exploring the Cretaceous Alam El Bueib and Bahariya sandstones in a satellite structure of the Meleiha Field. Karm 1X forms part of the companyâs 2019-2020 exploration campaign across the Shushan Basin concession, which has seen two discoveries made to date. The Shemy 1X NFW encountered oil in the Cretaceous Matruh Formation in July 2019, whilst the Basma 1X NFW discovered oil in the Jurassic Khatatba Formation in April 2019. Equity in the Agiba consortium is split between Eni (38%), Lukoil (12%) and EGPC (50%, carried).<P />
Karm 1X exploration well (Agiba Petroleum 100% = Eni, Lukoil 76/24 JV) located on the South East Ras Qattara PSC. P&A, no further details are available.