The Croatian Company, INA Nafta achieved a new oil discovery, Sidi Rahman-1 located in the Western Desert, 3 km off the Mediterranean Coast, announced the Egyptian Ministry of Petroleum (MoP).
Based on the test’s results, the well is expected to produce around 3200 barrels of crude oil per day, 49 API which is classified as one of the finest types of crude oil globally.
As for proven reserves, the well is estimated to have 31 million barrels approximately.
The recent available information reveals the presence of other geological formations of which reserves are estimated with about 21 million barrels of crude oil which increases the area’s total reserves to reach about 52 million barrels of crude oil.