Kuwait Energy Reports New Oilfield in Egypt at East Ras Qattara

Kuwait Energy Co., a Kuwaiti oil and gas company, said it found a new oilfield in Egypt with a production rate of 2,615 barrels of oil a day.

The discovery of the Al-Zahraa oilfield in the East Ras Qattara block is Kuwait Energy’s fourth in Egypt since 2006, the company said in an e-mailed statement today. Kuwait Energy owns a working interest of 49.5 percent in Al-Zahraa, the company said.

In April, Kuwait Energy reported two new fields at East Ras Qattara, boosting production in the Shahed and Rana fields to 5,285 barrels of oil a day from 900 barrels.

The company in May said it discovered the Shukhair oil field with a daily production capacity of 2,200 and an estimated reserve of 11 million barrels.