International Activities
The company drills for oil in the Western Desert in Egypt. On December 13, 2006, Naftogaz Ukrainy and the Egyptian General Petroleum Corporation had signed an agreement on the exploration and development of oil and gas deposits on the eastern territory of Alam El Shawish East in the Western Egyptian desert. On March 29, 2009 the company started to drill its first prospecting gas well Hamad-1 on the territory of the emirate of Al Fujairah in the United Arab Emirates (UAE). The 2005 agreement with UAE investors was signed in 2005. The term of the agreement is 29 years, including the four years of prospecting.
Read more about this topic: Naftogaz
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