Egypt announces 3 new oil, gas discoveries
Egypt's Ministry of Petroleum and Mineral Resources announced three new oil and gas discoveries in the country's Western Desert, WAM reported.
According to a ministry statement, the discoveries made by Khalda Petroleum Company are expected to produce nearly 12 million barrels of oil equivalent and 4 million barrels of recoverable reserves.
The ministry said the three discoveries are estimated to produce 2,750 barrels of oil and condensates and 20 million cubic feet of gas per day.
Earlier it was reported that the Egyptian government signed nine agreements for concessional financing and grants with France and the European Union, with a total value of €262.3 million, to implement priority projects in water treatment, sanitation, electricity and rail transport sectors.