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UAE's Dragon makes first oil discovery in Gulf of Suez
Reuters
Last Updated IST
Representative Image. Credit: iStock Photo
Representative Image. Credit: iStock Photo

United Arab Emirates-based Dragon Oil has made its first oil discovery in the Gulf of Suez, the Egyptian petroleum ministry said in a statement on Tuesday.

The discovery is one of the largest in the area in the past 20 years, it said, adding that the field could contain around 100 million barrels in reserves.

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(Published 15 February 2022, 19:42 IST)