H.E. Mr. Yevhen Kyrylenko, the Ambassador of Ukraine to Egypt, 07.02.2012 took part in the ceremony of signing a Concession Agreement between the National Stock Company “Naftogaz of Ukraine” and the Ministry of Petroleum of the Arab Republic of Egypt for investigation and exploration of hydrocarbon deposits Wadi Mahareeth № 8 і 9, that are operated by the Egyptian Company GANOPE (Ganoub EL-Wadi Holding Petroleum Company).
The total area of concession located in the East Desert of ARE is more than 20 thousand square km and is equal to the area of Chernivtsy and Zakarpathian regions of Ukraine taken together.
The project is realized in the framework of the State programme for diversifying energy sources in Ukraine. The participation in the project is a unique opportunity for Ukraine to strengthen its position in the Northern African oil exploration segment. It opens perspectives for implementation of similar projects in other countries of the region.
In his address to H.E. Mr. Abdalla Gourab, Minister of Petroleum of Egypt, the Ambassador underlined that Ukraine attaches great importance to bilateral cooperation with the Arab Republic of Egypt. Ukraine has a special interest in developing cooperation in oil and gas branch with African countries in general and with Egypt in particular. We consider this kind of cooperation as an extremely important component of bilateral relationship.