New oilfields in Egypt will help independent oil firm Kuwait Energy Co (KEC) to boost their production capacity to 15,000 barrels of oil equivalent per day (boepd) this year, a senior commpany official said on Monday. KEC, a small oil and gas exploration and production firm, also said it is delaying plans to list on the London stock exchange amid a global economic downturn.
The firm said on Monday it had found two new oilfields in Egypt's East Ras Qattara block which boosted production to 5,285 barrels per day of light crude up from 900 bpd. Proven reserves are at 3.46 million barrels.
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