NaijNaira
Egypt has confirmed another oil discovery in the Western Desert after test results from the GPR-1X well showed strong output of both crude and natural gas — www.naijnaira.com reports.
The Ministry of Petroleum told Arab Finance that the Abu Sennan find could add around two million barrels of recoverable oil to the country’s reserves.
Early testing revealed daily production potential of 1,400 barrels of crude oil and nearly one million cubic feet of gas from the Bahariya formation.
EGPC Chairman Mohamed Abdel Majeed said ongoing assessments also point to deeper hydrocarbon deposits in the Abu Rawash formations.
“This discovery confirms the vast opportunities still lying beneath our mature fields,” he explained while noting the role of artificial intelligence in locating reserves.
The breakthrough marks the second in the same area within three months, underscoring renewed exploration efforts across Egypt’s deserts.
Government officials have allocated $1.2 billion for oil projects in the 2024/2025 fiscal year, with plans to drill over 100 new wells.
By 2030, Egypt aims to commit $7.2 billion into 586 exploratory wells, cementing its ambition to strengthen its role as a regional energy hub.
