Egypt announces 3 new oil, gas discoveries in Western Desert

Egypt's Ministry of Petroleum and Mineral Resources announced three new oil and gas discoveries in the country's Western Desert on Saturday.

According to a ministry statement, the discoveries made by Khalda Petroleum Company, a joint venture between the Egyptian General Petroleum Corporation and US Apache Corporation, are expected to produce nearly 12 million barrels of oil equivalent and 4 million barrels of recoverable reserves.

The ministry said the three discoveries are estimated to produce 2,750 barrels of oil and condensates and 20 million cubic feet of gas per day.

The discoveries will raise the gas production of Khalda Petroleum Company to over 480 million cubic feet, according to the statement.