Enap's Sipetrol Strikes Oil in Egypt

Sipetrol, the international subsidiary of Chile's state oil company Enap, has discovered oil in its Shahd-1 well in Egypt's East Ras Qattara block west of Cairo, Enap said in a statement.

The well was drilled to a depth of 3,480m and flowed at rates of 700-1,000b/d. Crude produced from the well was API grade 41.

Companies have previously drilled 10 wells in the area without success.

Sipetrol is the block's operator with a 50.5% stake, with Australian company Oil Search holding the balance.

Sipetrol also has stakes in the El Diyur and North Bahariva blocks southwest of East Ras Qattara.

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