Naftogaz’s Investments Surpass $535 MM in Egypt

Naftogaz’s Investments Surpass $535 MM in Egypt

Naftogaz of Ukraine’s investments in Egypt have amounted to over $535 million over the course of 14 years, Director of Naftogaz in Egypt, Fedir Baiuk, told Al-Mal.

Baiuk stated that the company is currently involved in several oil and gas projects in collaboration with the Egyptian General Petroleum Corporation (EGPC) and Ganoub El Wadi Petroleum Holding Company (Ganope). Such projects include Alam El Shawish East concession in the Western Desert, as well as Wadi El Mahareeth and South Wadi El Mahareeth in the Eastern Desert.

The company aims to develop the current concession agreements and to increase its investments in Egypt.


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