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وكالة الأنباء الليبية
Egypt uncovers new Mediterranean oil deposit
The Egyptian Ministry of Petroleum announced the successful drilling of the offshore exploration well "VeloX-1X" in the North Cleopatra area in the Mediterranean Sea's western region. This marks the largest exploration drilling operation to date in the area, reaching a depth of 6,500 meters and costing less than the budget. The aim of this discovery is to increase the chances of achieving the first commercial oil investment in the region, which is considered one of the promising areas covering 40% of the Mediterranean Sea. The Egyptian government is intensifying its analysis of samples and geological data to support new discoveries, thereby enhancing the sector's attractiveness to foreign investments.
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