Dragon Oil finds 100 million barrels of oil in Egypt

Emirati Company Dragon Oil has discovered an oil field in the Gulf of Suez on Egyptian territory with reserves of about 100 million barrels, Report informs, citing the Ministry of Oil of Egypt.

"Dragon Oil's discovery of about 100 million barrels of reserves suggests additional reserves once development begins," the agency said in a press release.

It is noted that this is the largest find in the Gulf of Suez in 20 years.