On Behalf of

Business & Finance Club - Oil & Gas - Kuwait: Kuwaiti oil and gas company Kuwait Energy has discovered oil in the East Ras Qattara field in Egypt's Western Desert.

"The Diaa-1 well encountered oil in February 2010 in the Upper and Lower Bahariya formations and in the Kharita formation at a depth of approximately 10,700 to 12,000 feet," a spokesman for Kuwait Energy said.

The well produced as much as 1,600 barrels of oil a day in a production test from the Kharita formation.

Kuwait Energy operates in Kuwait, Indonesia, Iraq, Cambodia, Pakistan, Oman, Yemen, Egypt, Russia and Ukraine.

The company said last year it aims to increase daily production from 11,000 barrels of oil equivalent to 15,000 barrels this year.