Nicosia, Aug 21 : The Head of the Egyptian General Petroleum Corporation (EPGC) Abdallah al-Alim Taha recently said that Egypt’s reserves of crude oil and natural gas have hit a record level.
The country’s confirmed reserves of crude oil, he said, have reached the all-time record of 4.2 billion barrels, representing an increase of 221 million barrels compared to the previous year.
Also, Egypt''s confirmed reserves of natural gas hit a new record reaching 76 trillion cubic feet, an increase of 3.7 trillion cubic feet compared with the previous year. This represents an annual average rate of 8.5 per cent in the last ten years.