Khalda has completed the drilling of several new wells in the fields of its Eastern Desert concession.

The WRZK-68 oil-producing well was drilled using an EDC-65 rig to a depth of 6,822 feet, and has been added to the company’s overall production rates following the completion of the assessment process. Investments in the operation reached $579,000.

Another developmental well, the KAHC-158 well, was drilled to a depth of 8,200 feet using the EDC-61 rig, with investments in the amount of $1.993 million for the drilling operation. The well was drilled as part of Khalda’s developmental plan for the current fiscal year 2011-2012, and has also been added to the company’s overall production following assessment.

The company has also undertaken the drilling of a new water injection well as part of the current fiscal year’s developmental plan, labeled AG-93. Investments in the well, which was drilled to a depth of 11,000 feet via the ST-6 rig, reached $3.901 million.

Khalda’s production rates for January 2010 were 4,015,842 barrels of crude oil, which rose to 4,601,309 barrels in January 2011, before falling to 4,591,606 for January 2012.

Khalda is a joint-venture company between the EGPC, representing the Egyptian government, and American Apache Corp.