El Hamra Oil Company revealed that it started to implement the development plan for the current fiscal year of 2010-2011. The plan includes developing six wells in the company’s field in El Alamein.

Egypt Oil & Gas newspaper learned that developing those wells will cost $ 2.5 million as the company finalized determining the amount of oil in the layers of both the exploratory and development wells. The company is also planning to develop more of its wells in El Alamein in the coming period.

El Hamra main target in the current fiscal year is to reach 6000 barrels of oil per day, compared to the previous year of 1300 barrels of crude oil per day.