Egypt announces new oil and gas finds

Three new oil and gas fields have been discovered in Egypt during geological exploration. This was reported by Sada El-Balad, a partner of TV BRICS.

The first source was found in a sand layer in the Western Desert region. The reserves are estimated at about 12.5 million barrels of oil, 1.77 billion cubic metres of gas and 1.15 million barrels of gas condensate.

The second field, discovered in the Gulf of Suez, has yet to be appraised. So far, it has yielded 2,660 barrels of oil per day.

A third source in the west of the country is also still being tested. So far, 720 barrels of oil per day have been extracted from it.