Privately-held Kuwait Energy Co has found a new oilfield in Egypt, the company said in a statement on Sunday.
Oil flowed from the Al Zahraa oilfield at the rate of 2,615 barrels per day (bpd). Kuwait Energy holds a 49.5 percent stake in the oilfield, it said in the statement.
The discovery was in the East Ras Qattara block, and was the company s fourth since it started exploring in Egypt in 2006. Kuwait Energy has 10 exploration and production blocks.
The company has projects in Oman, Yemen, Egypt, Russia, Ukraine, Latvia, Pakistan and Cambodia. It plans to go public by the end of next year. -Reuters
