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FINANCIAL NEWS
Kuwait Energy discovers more oil fields in Egypt
09 Jun 2011
(MENAFN) Kuwait Energy’s chief executive, Sara Akbar, said that the private oil and gas producer explored two new oil fields in Egypt’s western desert, reported The National.
Akbar added that the new discoveries in East Ras Qattara field made the total of the company’s oil and gas wells in Egypt eleven, adding that in 2011, the company would continue its operations to uncover new fields.
She also said that although Egypt went through rough times during the revolution, the Egyptian authorities allowed regional oil companies to pump oil and gas from the country, which indicated that Egypt would do its best to boost its economy’s growth.
It is worth noting that Egypt’s oil and gas sector is among its economic pillars, in addition to the sectors of manufacturing, tourism and transportation through the Suez Canal.
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