(MENAFN - Kuwait News Agency (KUNA)) Kuwait Energy Company announced on Saturday a new successful discovery of an oil well, (West Ahmad-1X), that is located in (Area A) concession near the Shukheir North West Field in the Gulf of Suez, Egypt.
In a press statement, the company said that initial tests showed a production flow rate of 1,250 barrels of oil per day, adding that this is the fourth successful exploration for Kuwait Energy in (Area A) concession, and the 17th discovery in Egypt since 2008.
The statement quoted Mohammad Al-Howqal, Chief Operations Officer at Kuwait Energy, as saying, "This is another great success in a mature field that has been producing since 1960. Our new oil discoveries in Area A have significantly increased gross production in the area from 2,800 to 7,250 barrels per day since commencing operatorship in 2008." Egyptian production operations represent the largest share to Kuwait Energy's current production.
The company operates three assets in Egypt namely (Area A), Burj Al Arab, and Abu Sennan. Also, it has working interest shares in two other non-operated assets; Mesaha and East Ras Qattara concessions.