OECD countries grew by 0.4 percent in the first quarter! OECD countries grew by 0.4 percent in the first quarter!

Shell said in a written statement that the new reserve was found in the concession area northeast of Amiriyye in the Mediterranean Sea.

The statement said that the drilling of the first well within the scope of the project to drill three wells in the concession area has been completed and it is not yet possible to provide information on the total gas reserve.

The statement said that preliminary data confirmed the presence of a gas-bearing layer, but that the data received should be further evaluated to determine the scope of the discovery and potential production, adding that the data obtained from the first well, the drilling of which was completed, indicated the presence of a gas-bearing layer at a depth of 250 meters below sea level.

Khaled Kassim, Chairman of the Board of Shell Egypt, described the new discovery as "an important step forward for Shell Egypt to achieve its goals of having a greater share in the local market and creating a positive impact." 

Editor: John Wickey