Egypt’s Reserves Reach 200 Billion Barrels of Oil

Source: www.gulfoilandgas.com 3/10/2012, Location: Africa

Minister of Petroleum Eng. Abdullah Ghorab said Friday 09/03/2012 that the petroleum sector is currently witnessing a good position, which promises a better petroleum future. The Minister noted that the reserve of crude oil and natural gas is growing thanks to the successive discoveries, where it reaches nearly 18.3 billion barrels of oil equivalent and is expected to reach 20 billion barrels next year.

Ghorab noted that the current volume of production reached one 1.9 million barrels equivalent, referring to the continued flow of Arab and international oil investments during the coming period.


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