New Oil, Gas Reserves Found in Egypt

One well in the Western Desert showed gas-bearing zones with 253 feet (about 77.1 meters) of net thickness and an estimated 12.5 million barrels of oil equivalent. Testing is underway, alongside plans for a 10-million-U.S.-dollar, 23-km pipeline extension and additional drilling aimed at boosting gas output to 30 million cubic feet per day.

Meanwhile, two newly-discovered wells in the Gulf of Suez are also under evaluation for reserve estimates.

The latest finds support Egypt's strategy to position itself as a regional energy hub, bolstered by recent major discoveries such as the Zohr gas field in the Mediterranean, which is estimated to hold 30 trillion cubic feet of gas. 

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