Investor Alert

May 3, 2018, 5:29 a.m. EDT

Eni makes oil discovery in Egyptian Western Desert

By Marc Bisbal

Eni SpA (ENI.MI) said Thursday that it has made an oil discovery in the Faghur Basin in the Egyptian Western Desert.

An exploratory well was drilled and oil was encountered, the company said.

Eni said the well has been opened to production and delivered 2,300 barrels of oil a day.

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