Business
OilNaftogaz ups oil production in Egypt by 11.5% in 2014
Naftogaz Ukrainy in 2014 increased oil production in Alam El Shawish East in Egypt's Western Desert by 11.5% (by 200,000 barrels) compared to 2013, to 1.932 million barrels, the state holding’s press service has announced.
According to its data, total oil production in Egypt since the beginning of the company's work in 2009 exceeded 5.35 million barrels.
In addition, gas production since its launch in September 2014 amounted to 50.88 million cubic meters of gas.
In general, as part of the Egyptian project the company drilled 42 wells, of which 30 are in production (24 oil and six gas condensate wells), and another one is being tested. As of January 1, 2015 the holding operated 18 wells - 14 oil and four gas condensate.
At the same time, the company commissioned six new wells in 2014, built 14 gas pipelines 37.5 km long, and developed deposits, which allowed them to begin the extraction of natural gas in the amount of 400,000 cubic meters per day, and gas condensate in the volume of 600 barrels per day.
Naftogaz plans to complete the construction of infrastructure objects in the fields and commission new pipelines in 2015, due to which it will be possible to connect the remaining productive wells and reach a production level of 7,000 barrels of oil and 700,000 cubic meters of gas per day (currently the figure is about 550,000 cubic meters of gas per day).
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