KUWAIT, May 2 (KUNA) -- The Kuwait Energy Company has discovered an oil field in Ras Qattarah block in the Egyptian western desert, the seventh such discovery by the company.
Deputy Chief Executive Officer (CEO) and Managing Director of the company Sarah Akbar said in a press statement on Sunday the oilfield was located in Diah-1 well where drilling began last February.
The discovery is the seventh of its kind by the company and the fourth in this field since March last year.
Akbar added that the field gave out 1,600 bpd in the preliminary tests, hoping that further discoveries would be made as a result of the fruitful efforts of the company teams and cooperation of the Egyptian authorities and partners.
The Kuwaiti company share in the eastern Ras Qattarah is estimated at 49.5 percent, after the company, in March 2008, acquired Oil Search Co. in Egypt and Yemen.
Kuwait Energy is non-state company that was founded in 2005 as an independent entity for exploring and producing oil and natural gas in the Middle East and north Africa and it is today one the most growing companies in the Middle East.
The company owns 42 branches in eight countries including Egypt, Yemen, Oman, the Ukraine, Latvia, Russia, Pakistan, Cambodia as well as the operational rights in 14 branches including Egypt, Yemen, Ukraine, Russia and Latvia. - Kuna