Monday, January 22, 2007

Oil and Gas: More oil and gas fields discovered in Egypt

Egypt's Minister of Petroleum Sameh Fahmi, has announced the discovery of six oil and gas finds in the Gulf of Suez, the eastern and western deserts and the Mediterranean, the State Information Service reported.

The find is expected to secure an additional 140 million barrels of crude oil and condensates in addition to 1.5 trillion cubic feet of natural gas.

Egypt's Daily Star rapports that Fahmi was also reported to have said that Egypt has signed a number of agreements with international oil companies with advanced technologies and expertise to carry out drilling works.