Egypt Knocks Out 17 Discoveries in Q1

Tuesday, May 7, 2013

According to Egypt’s State Information Service (SIS) the country saw a total of 17 oil and natural gas discoveries during Q1. The 21 discoveries consisted of 13 oil discoveries and four natural gas discoveries in the WesternDesert, the Gulf of Suez, the Mediterranean, and Upper Egypt.

EGPC’s chairman, Sherif Hadara, reported the total reserves of these finds amounted to some 12 million barrels of crude oil and condensates, and 125 Bcf of gas.

Hadara also revealed that in H2 2012 the country saw 29 oil and gas discoveries.

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