24 Hrs
Source:
Sky News
Egypt uncovers 9 new gas and oil finds
Egypt announced the achievement of nine new hydrocarbon discoveries, including eight gas discoveries and one oil discovery, adding approximately 2.8 trillion cubic feet of gas reserves. The country plans to drill 16 exploration wells during the current fiscal year to target resources amounting to up to 6 trillion cubic feet of gas. The government aims to increase daily production by 330 million cubic feet before the year's end, focusing on fields such as Zhar and West Mena in the Mediterranean Sea and the Malha fields in the Western Desert, in order to reduce import costs and secure the needs of the local market.
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