The Kuwait Energy Company announced a new discovery in Ras Qattarah block in the Egyptian Western desert. The find is considered the seventh for the company.
“The oilfield was located in Diah-1 well where drilling began last February. The discovery is the seventh of its kind by the company and the fourth in this field since March last year,” said Sarah Akbar, Kuwait Energy Deputy Chief Executive Officer (CEO) and Managing Director, in a press release.
Akbar added that the field’s preliminary tests gave a result of 1,600 barrels per day (bpd), hoping for further discoveries to be made in Egypt.
Akbar Also said that Kuwait Energy is currently drilling another two wells in the area of Ras Qattarah and Burg Al Arab, pointing that the firm already finalized the agreement for exploration and production with the Egyptian General Petroleum Corporation (EGPC).
The Kuwaiti company share in the Eastern Ras Qattarah is estimated by 49.5 percent, after the company, in March 2008, acquired Oil Search Co in Egypt and Yemen.
Kuwait Energy is a private company that was founded in 2005 as an independent entity for exploring and producing oil and natural gas in the Middle East and north Africa and considered one the most growing companies in the Middle East.