Naftogaz Ukrainy extracts 454,000 barrels of oil in Egypt since April 2010

National joint-stock company Naftogaz Ukrainy from April 18, 2010 to July 1, 2011 extracted 454,000 barrels of crude oil in Egypt, reads a report of the Ukrainian Energy and Coal Industry Ministry on the realization of the ministry's goals for the first half of 2011.

"Currently a total of 23 wells have been drilled. Five oil fields have been found. Drilling and well testing continues at the concession field under the approved program. The exploration stage will last until December 13, 2011," the ministry said.

According to the report, Naftogaz Ukrainy studied geologic-geophysical profile materials and has drawn up a feasibility study on the appropriateness of investment in the development of the South Wadi Mahareeth licensed block eight and the Wadi Mahareeth block nine (both located in Eastern Desert, beloning to Ganoub El-Wadi Petroleum Holding ??. (GANOPE), so to expand the resource base of hydrocarbons in Egypt.

As reported, Naftogaz currently produces hydrocarbons at the Alam El Shawish East concession in western Egypt. Alam El Shawish ??st, which covers about 994 square kilometers, currently produces 1,500 bpd. In future, Naftogaz plans to begin producing at two blocks in the southern desert covering about 22,000 square kilometers.