Egypt Discovers Oil and Gas in Western Desert, Ministry Says

Egypt’s state-run General Petroleum Co. made an oil and natural gas discovery in the Western Desert and plans to drill nine wells to develop the concession, the Oil Ministry said today.

The find has reserves estimated at about 16.5 billion cubic feet of gas and 48 million barrels of crude, the Cairo-based ministry said in an e-mail. The company, also known as GPC, and Kuwait Energy Co. made two joint discoveries in the same area, the ministry said.

To contact the reporter on this story: Ola Galal in Cairo at ogalal@bloomberg.net

To contact the editor responsible for this story: Stephen Voss at sev@bloomberg.net

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