Naftogaz ready to sell its assets in Egypt - KYIV POST

Ukraine's oil and gas company Naftogaz Chief Executive Officer
Andriy Kobolyev, Paris, on October 28, 2016. Photo by AFP

Published Dec. 29 at 5:24 pmBy Interfax-Ukraine

Naftogaz Ukrainy is ready to sell its assets in Egypt, chairman of the state holding Andriy Kobolev said.

According to him, the feasibility of such a step is due to the fact that this business does not bring much profit to the company.

As reported, Naftogaz through its subsidiary Zakordonnaftogaz explores and operates two oil and gas blocks in the Eastern Desert of Egypt – South Wadi El Mahareeth and Wadi El Mahareeth. The work on these deposits, the projected resources of which exceed 360 million tonnes of oil, is carried out on the basis of concession agreements signed on Feb. 7, 2012 between Zakordonnaftogaz on behalf of Naftogaz and the government of the Arab Republic of Egypt and GANOPE state oil company (Ganoub El -Wadi Holding Petroleum Company).

Naftogaz increases oil and condensate production in Egypt by 20.7% in 2015 - INTERFAX

18:19, 07.10.2016

Naftogaz Ukrainy in 2015 increased production of oil and condensate by 20.7% compared to 2014, to 318,000 tonnes (2.33 million barrels).

According to a company consolidated report, posted on its website, commercial gas production was 192 million cubic meters, which is 4.8 times more than in 2014.

In general, since the launch of the project in Egypt in 2009 a total of 1.046 million tonnes of oil (7.686 million barrels) and 243 million cubic meters of gas was extracted, 49 wells were drilled, of which 37 were productive.

As of January 1, 2015 Ryder Scott had conducted an independent evaluation of hydrocarbon reserves/resources of the Naftogaz branch in Egypt, according to which total recoverable reserves (proven and probable - 2P) amounted to 1.132 million tonnes of oil (8.2 million barrels) and 599.6 million cubic meters of gas.

Libya to resume oil exports from biggest ports within a week - WORLD OIL

By HATEM MOHAREB on 7/7/2016

TRIPOLI (Bloomberg) -- Libya will resume crude exports from two of its biggest oil ports within one week after clashes that forced Islamic State militants to pull out of the area, according to the commander of the petroleum guards in the region.

Crude exports will resume from Es Sider, the country’s biggest oil port, and Ras Lanuf, the third-largest, and which have been closed since 2014, Ibrahim al-Jedran, a regional commander of Libya’s Petroleum Facilities Guard, said in a phone interview. The exports will be under the authority of the Tripoli-based Government of National Accord, which is seeking to reunify the divided country, he said.

Some “minor technical problems” related to the transportation network between the oil storage tanks and the Es Sider and Ras Lanuf oil ports due to damage, inflicted during clashes since last year, will be fixed within a few days, al-Jedran said.