Naftogaz Ukrainy produces over 685,000 barrels of oil in Egypt
KYIV. Feb 6 (Interfax) - Ukraine's national oil and gas company Naftogaz Ukrainy produced over 125,000 barrels of crude oil in Egypt in October-December 2011 and 685,000 barrels since the beginning of last year, the Ukrainian Energy and Coal Industry Ministry said in a report on the company's plan fulfillment for 2011.
"Naftogaz Ukrainy has been carrying out commercial oil production and delivery from the HG field of the Alam El Shawish East concession zone since April 18, 2010. As of December 23, 2011, over 685,000 barrels of crude oil had been produced in the concession zone," the document said.
According to previously published ministry data, 454,000 barrels of oil had been produced as of June 30, 2011, and over 560,000 tonnes had been produced as of September 30.
Naftogaz Ukrainy had drilled 25 wells and discovered six oil deposits as of the end of last year.
The company is also exploring the possibility of developing new fields in the United Arab Emirates. It has finished drilling a prospecting well at the licensed onshore block Al-Fujairah, which is 5,531 meters deep.
The concession agreement for exploring and developing the Alam El Shawish East concession zone - a total area of 994 square kilometers - was signed in December of 2006.
Naftogaz studied geologic-geophysical profile materials and has drawn up a feasibility study for investment in the development of the South Wadi Mahareeth licensed block eight and the Wadi Mahareeth block nine, both located in Eastern Desert, belonging to Ganoub El-Wadi Petroleum Holding