CAIRO: The Minister of Petroleum issued urgent instructions last weekend to continue the development plan implementation of the latest naval discovery of Crude oil in Suez Gulf in the prospect rights of the American company IBR, according to reports issued by the State Information Service (SIS). The field was found in the new exploratory field in the Southern Ramadan City One.
The Initial explorations by the American company calculated the flow of crude oil from the field at 2,900 barrels per day with quality 34, according to the American Petroleum Institute.
Minister of Petroleum Sameh Fahmi discussed the results of these new discoveries within the context of a new strategy to “attract more foreign investments and Multiplicity and diversify the International companies with global experience to search for oil and gas and produce it from the proposed areas on the Egyptian map, reported SIS.
