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    Ukraine's Naftogaz Advances Egyptian Gas Plans


But it says the investment terms need to be sweetened.

by: William Powell

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Ukraine's Naftogaz Advances Egyptian Gas Plans

Naftogaz Ukrainy is to speed up oil and gas production in Egypt and develop infrastructure in the country, it said August 19, following a meeting in Cairo with joint venture partner state EGPC and Petrosannan. It has a concession at the Alam El Shawish East in the Western Desert.

However it said that the terms of agreements with contractors need to be revised to make them more attractive; also, the operational and administrative costs needed to be lower.  

On the agenda also were meetings with Ganoub El-Wadi Holding Company, Naftogaz' oil and gas exploration partner in the territory of Wadi El Mahareeth and South Wadi El Mahareeth in the Eastern Desert; and with oil minister Tarek El Molla. The aim was to discuss how all the stakeholders might work together on current and future projects in Egypt.