Dana Gas of the UAE has made the first discovery of crude oil in the far south of Egypt, state news agency MENA said on Monday.
Canada’s Centurion International, which was bought by Dana Gas last year, discovered a field that could contain eight million barrels of crude, MENA reported.
It said the oil was of 37 degrees API, which indicates a light crude.
The oil was 4,000 feet (1,290 feet) under the ground, about 80 km (50 miles) northwest of Aswan near the town of Kom Ombo.
Last month Dana Gas said it discovered natural gas in Egypt. Gas from a well drilled at the West Manzala Exploration Concession flowed at 16.5 million cubic feet a day, Dana said.
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