Volume 2, issue #18 - 26-06-1997

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Arab oil & gas producing countries make 41 oil- and 29 gas-finds

June 12, 1997 Arab oil-producing countries made 41 discoveries of oil and 29 gas finds in 1996. A bulletin by the Organisation of Arab Petroleum Exporting Countries (OAPEC), said the discoveries were made in OPEC member countries Algeria, Libya, Qatar, Saudi Arabia, and the United Arab Emirates (UAE), as well as non-OPEC Tunisia, Egypt, Oman and Yemen. Most of the discoveries were made in Egypt, which announced 15 oil discoveries and 19 gas finds for the year. Oman made 9 oil discoveries and 3 gas finds, Algeria made 8 oil finds and 3 gas discoveries, while Tunisia made 2 oil discoveries and 1 gas find. Libya made 3 oil discoveries, while the UAE and Qatar made 1 oil find each. Saudi Arabia made 2 oil discoveries and Yemen made 2 oil finds and 1 gas discovery.