Kuwait Energy Co. and its main partner, the Egyptian General Petroleum Corp., said Monday they made a new oil discovery in Ahmad-2 oil well, located in Egypt's Gulf of Suez.
Kuwait Energy Co. and its main partner, the Egyptian General Petroleum
Corp., said Monday they made a new oil discovery in Ahmad-2 oil well, located
in
Egypt
's
Gulf
of Suez
.
The Ahmad-2 well encountered oil in the Rudeis formation for the first time in
the Shukheir North West field and Ahmad area, and initial tests showed a
production flow rate of 1,300 barrels of oil per day, Kuwait Energy said in an
emailed statement.
It is the fifth exploration success in the Area A concession, and the 19th
discovery in
Egypt
for
Kuwait Energy since 2008.
Kuwait Energy, a privately owned oil and gas explorer and producer that started
operations in
Egypt
in
2008, is the operator of the concession, in which it holds a 50% working
interest.
Egypt
's
Beach Petroleum Pty Ltd. holds a 22% working interest and Dover Investments
Ltd. a 28% working interest.
Egypt
's
operations contribute the largest share to Kuwait Energy's current total
working interest production.
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