PetroAmir, a joint venture company between the EGPC and Vegas Oil & Gas, has completed drilling a new developmental well in its Eastern Desert concession.

Using the ST-9 rig, the new AlAMIRSE-10 well was drilled to a vertical depth of 10450 feet with investments averaging $960 thousand.

During December of 2011, the company’s production rates of crude oil have reached 184,777 barrels.