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AfrOil PERFORMANCE AfrOil
Naftogaz-EGPC JV reports production up
EGYPT THE Petrosannan joint venture between Naftogaz has also been implementing hydro-
Ukraine’s national gas company Naftogaz and carbon exploration and production projects in
Egyptian General Petroleum Corp. (EGPC) saw the Alam El Shawish East area in the Western
oil production from concession territory in the Desert and South Wadi El Mahareeth and Wadi
Western Desert of the Arab Republic of Egypt El Mahareeth areas in the Eastern Desert of
increase by 20%, or 600 barrels per day (bpd), in Egypt.
the first half of April, thanks to the use of frack-
ing technology, Naftogaz said in a press release
on April 19.
Naftogaz will receive additional revenues
from its operations of about $400,000 per
month, provided that its achieved production
level and current oil prices ($60 per barrel) are
maintained, the company said.
“One of the key vectors of the strategy of Naf-
togaz Group is the increasing of hydrocarbon
production, both in Ukraine and from foreign
assets. Only the start of the current well stimu-
lation campaign has allowed us to increase our
oil production by 20%. We are planning to use
this experience in the future, in particular [the]
hydraulic fracturing of the wells, at other sites
operated by Naftogaz Group in the Arab Repub-
lic of Egypt,” first deputy head of Naftogaz Sergiy
Pereloma said in the statement. The Petrosannan JV has a concession for fields in the Western Desert (Naftogaz)
Algeria’s gas exports up in Q1-2021
ALGERIA ALGERIA’S natural gas exports increased sig- gas was the Iberian Peninsula, which comprises
nificantly in the first quarter of 2021, driven by Spain and Portugal. This region imported 4.3
strong demand from clients in the northern bcm of gas from Algeria in the first three months
Mediterranean region, Algerie Presse Service of the year, up by 122% year on year.
reported, citing a statement by the national oil The North African country’s market share
company (NOC) Sonatrach. also grew to 47% of the total in the first quar-
According to the statement, Italy was the top ter of 2021, up from 21% in the same quarter
destination for Algerian gas. Exports to Italy of 2020.
more than doubled between January and March, Increasingly, Sonatrach has been diversi-
growing by 109% year on year and reaching fying its gas export markets away from South-
6.4bn cubic metres. This served to expand Alge- ern Europe and towards Asia, led by China
ria’s share of the Italian gas market to 35%, up and Bangladesh. Nevertheless, Italy and other
from 16% in the same quarter of 2020. European countries are still the main market for
The second largest destination for Algerian Algeria’s gas.
Algeria uses several underwater pipelines to deliver gas to European buyers (Image: European Parliament)
Week 16 21•April•2021 www. NEWSBASE .com P9
