Naftogaz concluded the drilling of a new exploratory well, EHG 1-1, in the context of the company’s 2011-2012 drilling program.

The EHG 1-1 was drilled to a total depth of 1600 feet, with total investment worth $4 million.
The new oil-producing well is currently under evaluation.

At the end of last September, Naftogaz conduced a drilling operation at the company’s Alam El-Shawish concession, in the Abu Gharadiq basin, east the Western Desert.

The company drilled a development well HG-34/3, through the Sino-Tharwa rig ST-11, with total investments of $5 million. The production rate of the well stands at 3000 barrels of oil per day (bopd).

Ukraine’s national oil and gas company revealed that its plans to produce about 600,000 barrels of crude oil from deposits in Egypt in 2011.

According to the company’s statement published last May, Naftogaz plans to increase extraction of crude oil at the Alam El-Shawish East block to 3,000 barrels per day by next year.

Naftogaz, which started production at the Gharadig oil deposit in Egypt in April 2010, had already extracted about 410,000 barrels of crude oil from the deposit.