Naftogaz is planning to rent a third rig for its concession area of Abo Senan field, located in the Western Desert, in addition to speeding up placing the wells on the production line, according to the company’s drilling plan for this year.

Egypt Oil & Gas exclusively published last issue that EGPC and Naftogaz are in the process of founding a joint-venture company, according to the concluded policy of agreements between the local authority and the foreign partner, after discovering the HG34-3 well, that nearly produces 3000 barrels of crude oil and 4 million cubic feet of gas per day.

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