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FINANCIAL NEWS
Egypt on 2 new gas discoveries
01 Aug 2011
(MENAFN) Egyptian oil ministry reported two new discoveries of natural-gas in the Nile River Delta and Mediterranean Sea that would add 194 billion cubic feet of gas to the country’s reserves, reported Bloomberg.
In addition, the two discoveries would add 2 million barrels of condensates to the country’s current 10.4 million barrels produced on a daily basis.
It is worth noting that Egypt comes in the third place in Africa in terms of gas reserves, as it currently holds 2.19 trillion cubic meters. The two new finds represent a 0.2 increase to this total. Condensate is a high-value light crude oil.
More News
08 Apr 2026
BBK awards over BD 1 Million to 273 winners in the February Al Hayrat Grand Prizes draw
01 Mar 2026
BBK activates partial remote working system for its workforce to ensure employee and customer safety and service continuity
24 Feb 2026
BBK discloses its financial results for the year ended 31st December 2025
05 Feb 2026
BBK announces December Al Hayrat Grand Prize winners and another wave of Grand prizes for February
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