New oil discovery in Western Egypt for Apache

Oct 30, 2008 01:00 AM

A new oil well in the Western Sahara region of Egypt, described as a "gusher," was announced as having the capacity of producing 5,000 barrels of high grade crude and 4.3 mm cf of gas daily.
The discovery took place in an area where the US Apache oil company has been drilling for oil and gas since 2005. The company is currently studying the size of the well and its potential reserves of crude.

It is hoped that the new well will be the harbinger for more wells in that region of the country where oil is being produced at the present time at a capacity of 240,000 bpd, which represents about 35 % of all crude oil production in Egypt.
Oil minister Sameh Fahmi noted that the new discovery is at a spot close to the Libyan border, giving the impression that there may be extended areas across the border rich in oil and gas. The discovery will open the door wide to international oil companies that wish to conduct searches for energy in that region of Egypt, he aspired.

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