Ukraine's State Oil Company to Develop Field with Egypt

Naftogaz Ukrayiny, the national oil and gas company, and Egyptian General Petroleum Corporation (EGPC) signed a 27-year agreement to develop Alam El-Shawish East oil and gas field, Naftogaz press service reported Monday.

The agreement was signed by Egypt?s Oil Minister Sahmeh Fahmy, EGPC chairman Abd El Aleem Taha and Naftogaz Ukrayiny CEO Volodymyr Sheludchenko following Naftogaz?s victory at a tender to develop the field.