Egypt Discovers Oil, Gas In Western Desert, Ministry Says

Egypt’s state-run General Petroleum Company made an oil and natural gas discovery in the Western Desert and plans to drill nine wells to develop the concession, Egyptian petroleum Ministry said Monday.

Mohamed Abdel Fattah, Chairman at General Petroleum Company, stated that the find has reserves estimated at about 16.5 billion cubic feet of gas and 48 million barrels of crude, the Cairo-based ministry said in an e-mail. The company, also known as GPC, and Kuwait Energy Co. made two joint discoveries in the same area, the ministry said.