Oil & Gas
EGYPT: Dragon Oil Made It's First Oil Discovery In Egypt
Irene Jerry
2 years, 8 months
Dubai government-owned Dragon Oil has made its first oil discovery in Egypt’s Gulf of Suez on Tuesday.
The discovery is one of the largest in the area in the past 20 years, and the field could contain around 100 million barrels in reserve.
The announcement was made on the sidelines of the now-running Egypt Petroleum Show (EGYPS) 2022. Dragon Oil in 2019 acquired BP’s stake at the Gulf of Suez Oil Company (GUPCO).
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