In order to effectively develop Naftogaz Group assets in Egypt, it is necessary to increase hydrocarbon production at the Alam El Shawish East Western Desert concessionary plot and speed up key infrastructure projects.

This was the verdict during the annual shareholders meeting of Petrosannan Company, joint company-operator of NJSC “Naftogaz of Ukraine” and “Egyptian General Petroleum Corporation” (EGPC) in Cairo, the Arab Republic of Egypt. Naftogaz first deputy CEO Sergiy Pereloma and Egyptian General Petroleum Corporation CEO Abed Ezz El Regal participated in the meeting.

Priorities include the introduction of a system of formation pressure support via oil reservoir flooding, as well as the replacement of leased equipment with internal kit.

It is also important to improve economic performance. The terms of agreements with contractors should be revised for this purpose, together with the reduction of operational, administrative, and other expenses.

Additionally, Naftogaz representatives met with the Chairman of the Board of Directors of Ganoub El-Wadi Holding Company Alaa Abd El Fattah Kassem El Batal. This company is a partner of Naftogaz within the framework of the concession agreement for oil & gas exploration and development in the territory of Wadi El Mahareeth and South Wadi El Mahareeth in the Eastern Desert.

Sergiy Pereloma also met the Minister of oil and mineral resources of ARE, Tarek El Molla, to discuss the coordinated cooperation of all stakeholders within current and future projects of Naftogaz in Egypt.