Naftogaz not to quit project in Egypt due to oil price decline

14:23, 31.03.2016 1 min read

National joint-stock company Naftogaz Ukrainy has no plans to stop its project on production of oil in Egypt amid the global oil price decline, Naftogaz Head Andriy Kobolev told reporters in Kyiv on Thursday.

"With today's oil prices this asset has lost value, but it is inappropriate to get rid of it during the period of low prices," he said.

Kobolev said that the holding seeks to diversify its strategy and minimize investment, which should (at least) equal the level of income.

He said that currently the investment and return on it are almost equal.