Naftogaz has increased oil production in Egypt

News

Naftogaz has increased oil production in Egypt

21.04.2021 News

The joint venture of Naftogaz of Ukraine and the Egyptian General Petroleum Corporation – Petrosannan Company – has added 20%, or 600 barrels per day, to oil production in the Western Desert of Egypt, the company’s press service reports.

This was reportedly made possible by fracturing in the pilot wells.

It is noted that if production volumes and current oil prices ($ 60 per barrel) are maintained, Naftogaz will have additional income from operations of almost $ 400,000 per month.

“We plan to continue to apply the experience gained, in particular in the implementation of hydraulic fracturing, in other areas operated by the Naftogaz Group in the Arab Republic of Egypt,” said First Deputy Chairman of the Board of Naftogaz Sergei Pereloma.

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