Naftogaz began oil production in Egypt

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NAK Naftogaz Ukrainy I began passing oil production in the Western desert of Egypt in the Alam El Shawish East (AESE) block territory.

Last week "Naftogaz" stopped drilling a prospecting well and now every day receives oil inflow by an output of 80 million tons (588 barrels), the Ekonomicheskiye Izvestiya newspaper (No. 33 of February 25) writes.

Besides, interpretation received the geologist - geophysical materials allowed to find in a well section three perspective horizons, which joint operation as assume in "Naftogaz", will allow to increase daily production several times.

Further development of the block will be concentrated in its southern part where the main stocks are found. Here NAK plans to drill in 2009 three search wells (the general taken resources - 60 million t) and two more (with resources 8 million t) in northern part.

As a whole to the second half of the current year of NAK hopes to reach commercial level of production of production and to begin its realization. Industrial production, on company expectations, has to begin on the third year of the project, and peak of the maximum production - from sixth year.

Initially implementation of the project on raw materials production took place in Egypt within the state program of diversification of sources of supply of hydrocarbons to Ukraine. According to the experts, annually on the AESE block it is possible to receive about 2-2,5 million t of oil. But soon the question of increase in supply of oil to the country at the expense of the Egyptian resource ceased to be considered as that in view of lack of the adjusted transport routes.

In a press - service of "Naftogaz" specified that the company doesn't plan to deliver the Egyptian oil to Ukraine. And after an exit to commercial production level together with the Egyptian General Oil Company (EGOC) the company - the operator of the project in the form of the joint venture will be created. On it realization of the got product will be assigned to the European markets also.

According to experts if level of world quotations reaches 40-60 dollars for barrel, production in this region will be rather profitable and operation of the Egyptian site will be favorable NAK. According to OPEK, cost of oil production in North Africa makes 30-40 dollars for barrel.

At the same time, despite the solid proved stocks of hydrocarbons, part of experts consider that the means obtained from realization of the African oil, won't make structural part of the income of "Naftogaz". In particular, according to the director of power programs of the Nomos center Mikhail GONCHAR, such cooperation is favorable from the point of view of diversification of business of NAK, but hardly this project will allow the company to get essential profit and to improve the precarious financial position.

In a context of providing with raw materials of Ukraine, writes the edition, it was interesting to cooperate, for example, with "Lukoil" on an equivalent circuit. In particular, NAK could realize to it a resource got in Egypt, receiving instead of supply of its oil for the Ukrainian enterprises. It is quite possible as "Lukoil" is one of the next соседов - nonresidents on production in Egypt which successfully operates eight years two blocks on land (fund of wells - more than 180). One of them - Meleya - is also located in the Western desert and oil from this site goes to the world market via the terminal of Al - Hamra.

UNIAN reference. The rights for search, investigation and development of oil and gas fields in the Western desert of Egypt in the territory of the Alam El Shawish East (AESE) block of NAK Naftogaz Ukrainy received in December, 2006, having signed the concession agreement with the Egyptian general oil company.


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