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A handout photo released on January 10, 2025 by the Havariekommando, the German Central Command for Maritime Emergencies, shows the tanker Eventin carrying around 99,000 metric tons of oil from Russia. The 274-meter (899-foot) Panama-flagged tanker traveling from Russia to Egypt, had been drifting slowly and unable to maneuver since earlier on Friday before it was pulled to the harbour of Sassnitz, Germany. Havariekommando/Handout via REUTERS.
DUBAI - Egypt on Wednesday confirmed the discovery of oil reserves of at least 8 million barrels in the East Crystal-1 well in the Gulf of Suez, the petroleum ministry said.
The exploratory well was drilled by UAE's Dragon Oil via the Gulf of Suez Petroleum Company (GUPCO).
GUPCO plans to drill two more wells, potentially adding 5,000 barrels per day, the ministry added.
Dragon Oil completed its acquisition of BP's stake in GUPCO's concession areas in 2020.
Dragon Oil is a wholly owned subsidiary of the Emirates National Oil Company (ENOC).
(Reporting by Jana Choukeir; editing by Jason Neely)