VOL. XXXVIII

NO. 39

26-JUNE-1995

Egypt

Upward Revision Of Egyptian Gas Reserves; Phoenix Starts Production

Egyptian Oil Minister Hamdi al-Banbi has revised upwards his estimate for thecountry's gas reserves. These are now put at 22.3 trillion cu. ft. (TCF), up6.2% from the previous figure of 21 TCF. The estimate of crude oil reservesremains virtually unchanged at 3.3bn barrels (previously put at 3.4bn barrels).The Minister quoted these figures in a speech at a ceremony on 20 June at whichEgyptian...