Ganoub El Wadi Petroleum Holding Company announced a new petroleum discovery 30 km from Hurghada.

Tests show that the production flow will be 430 barrels of crude oil per day, and it has a reserve of 9.6 million barrels, according to a report received by Petroleum Minister Sheriff Ismail from Chairman of Ganoub El Wadi Petroleum Company Abu Bakr Ibrahim.

Ibrahim pointed out that the company is planning to intensify gas and oil exploration activities in southern Egypt.


Source: Egypt’s State Information Service