First discovery for Naftogaz in Abo Senan

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.

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