Kuwait Energy, one of the fastest growing independent oil and gas exploration and production companies in the Middle East announced a new oil discovery of Ahmad 2 well located in the Area A license in the Gulf of Suez, Egypt, adjacent to the Shukheir North West field. Kuwait Energy is the operator of the Area A license under a service agreement with Egypt's General Petroleum Company.

The Ahmad 2 well encountered oil in the Rudeis formation for the first time in the Shukheir North West field and Ahmad area and initial tests showed a production flow rate of 1,300 barrels of oil per day. This is the fifth exploration success in the Area A concession and the 19th discovery in Egypt for Kuwait Energy since 2008.

Mr Sara Akbar CEO of Kuwait Energy said that "We are delighted to announce yet another exploration success at the Area A concession, which follows the discovery of the West Ahmad-1X well earlier this year. Area A is now our largest producing oil asset in Egypt and we look forward to more successes."

Source - Kuwait Times

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