Kuwait Energy Company makes a new oil discovery in East Ras Qattara (ERQ) Field, Egypt, in wells Shahed and Rana,with a combined daily production rate of 5,285 barrels of oil, and expected reserves of 3.5 million barrels of oil. Kuwait Energy’s share and working interest of the field is 49.50%. The oil fields Rana and Shahed are located respectively 70 km and 100 km from Giza.

This is the first discovery in Egypt by Kuwait Energy since it entered the country in 2006.

Kuwait Energy has five exploration assets in Egypt, three of which are also producing assets.

Kuwait Energy Vice Chairman and CEO Ms. Sara Akbar: “This is a very important discovery for Egypt, Kuwait Energy, and our partners for the value it brings to Egypt’s energy policy and customers. Along with our partners in Egypt, we are very excited to announce this discovery.”

Tags: Kuwait Energy Company