OREANDA-NEWS. April 11, 2012. The Government is working to increase the volume of domestic production of oil, primarily through the development of oil areas of Subbotina in the Ukrainian Black Sea shelf and fields in Egypt, where "Naftogaz Ukraine" works on the concession.

This was started by Minister of Energy and Coal Industry of Ukraine Yuriy Boyko on air of the First National TV-Chanel.

"Ukraine produces 4 million tons but needs 15 million tons. Therefore the objective of any government is to increase domestic production. This year we start drilling on the main field in the Black Sea – on the area Subbotin. We are increasing production in Egypt, where we get two more oil blocks" - the Minister said.

Recall, on February 7, 2012 was signed two concession agreements between the Arab Republic of Egypt (ARE), the state enterprise ZAKORDONNAFTOHAZ of the Naftogaz of Ukraine and the state oil holding company Hanub El Wadi to conduct exploration, development and exploitation of oil and gas territories Wadi El Maharis and Wadi El Maharis South in the Eastern desert of Egypt.

Extracted oil resources of blocks WADI EL MAHAREETH and SOUTH WADI EL MAHAREETH, according to assess of the SE Naukanaftogaz confirmed by the conclusion of the State Commission of Ukraine on stocks, are not less than 244.42 million tons and 119.4 million tons, respectively, which exceeds the resource base of land of Ukraine in 4.5 times.