New Oil Fields Discovered in Egypt

Egypt’s Oil Minister revealed on Saturday that three new oil fields were discovered near the Gulf of Suez with a total reserve of 70 million barrels of crude.

A statement released by the Egyptian Oil Minister Sameh Fahmi on Saturday said that the new discoveries were the first in 40 years in the area, lying less than a mile (2 kilometers) from the western shores of the Gulf of Suez, 80 miles (130 kilometers) northeast of Cairo.

The first oil well contained about 30 million barrels, the second contained about 25 million and the third contained 15 million barrels of crude oil, the minister added
Aljazeera.com