Middle East Economic Survey

VOL. XLIX

No 9

27-February-2006

EGYPT

Petroleum Ministry Reports Two New Oil Discoveries

Egypts Ministry of Petroleum on 14 February reported the discovery of two new oilfields expected to produce at a combined initial rate of 10,000 b/d. The ministry said the Gulf of Suez Petroleum Company (GAPCO) had discovered a structure holding an initial estimate of 10mn barrels in the Gulf of Suez, and that Agiba Petroleum Company had discovered an oilfield in the Western Desert...