EGPC Awards Ukrainian Company Western Desert Acreage

Date: Tuesday, December 19, 2006

From Egypt, another oil and gas block award has been announced. According to Sameh Fahmy, the Egyptian Oil Minister, EGPC awarded Ukraine’s state oil and gas company Naftohaz Ukrayiny access to a concession. The agreement was signed on December 13.

The block is the Alam El Shawish East in the Western Desert. The total area of Alam El Shawish East is 974 sq km and the concession agreement has been signed for 27 years, of which the first three years will be the priority survey period. The projected recovery period is 5.5 years, according to the company.

The Naftohaz Ukrayiny competitors in the tender were Arabian, Apache, Santos, and Sipetrol.

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