Belayim Petroleum Company (Petrobel) made a new oil discovery in Sinai, announced the Ministry of Petroleum last month.
Medhat al-Sayyed, Petrobel Chairman said the output of the newly discovered well already reached 2270 barrels of crude oil per day.
He added that the well has been already put on production line. The find was discovered 40 km south of Abu Rudais City in South Sinai.
The estimated new reserves resulting from the discovery are 5.5 million barrels of crude oil, said the Ministry of Petroleum in a press statement.