Recoverable hydrocarbons include both oil and gas
The Egyptian General Petroleum Corporation (EGPC) has announced an oil discovery in the Abu Sinan area of Egypts Western Desert.
Recoverable reserves have been estimated at 2.2 million barrels of oil and about 11 billion cubic feet of gas, according to a statement released on 3 April.
It has been estimated that the find could produce up to 1,358 barrels of oil a day (b/d). Drilling started in the Abu Senan region in late January.
EGPC is now planning to drill subsequent wells targeting potential reservoirs in the same area.
Egypt is currently suffering from declining production of both oil and natural gas, while domestic demand for energy increases.
Egypts government has stated that attracting investment to Egypts energy sector is a priority and the target is for $70bn to be invested in the sector by 2022.
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