Kuwait Energy makes new Egypt oil discovery
Latest find is fourth in Egypt since start of company?s exploration
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Kuwait Energy on Sunday confirmed the discovery of a new oil field, Al Zahraa, in East Ras Qattara (ERQ) in the Western Desert, Egypt.
The company's share and working interest in the field, which is producing 2,615 barrels a day, is 49.5%.
The East Ras Qattara Concession was acquired in March 2008 and is operated by Sipetrol.
The latest find marks the fourth in Egypt since the start of the company’s exploration program in 2006.
The company currently has 10 exploration and production blocks in five areas in Egypt, and recently announced the discoveries of Shukheir NW, Shahd SE and Rana SE oil fields located respectively in Area A and East Ras Qattara.