Ukrainian Company Naftogaz announced its new discovery in the field of Abo Senan, located in the Western Desert.

The primary results showed that the well HG34-3 accommodates approximately 3000 barrels of crude oil and 4 million cubic feet of gas in Abo Rawash formation.

Naftogaz expects another discovery in another well, HG34-5 in the same field of Abo Senan.

This is considered the first discovery for the Ukrainian company in Egypt, which started its operations in December 2006 after signing a $7 million-agreement with the Egyptian General Petroleum Corporation (EGPC).

The budget of investments of Naftogaz counts for $3 million, while the company’s drilling budget was set last April to 300 million Egyptian Pounds.