Egypt Oil & Gas has learned that PETROSILAH has completed the drilling of a new exploratory crude oil well in the Western Desert concession area in order to implement the company’s drilling program during the current fiscal year.
The well’s investments are worth almost $1m. Production is expected to be 3,000 b/d.
It is worth noting that PETROSILAH succeeded in producing 2.54m barrels of oil during fiscal year 2014-2015, an increase of 425,000 barrels from the previous year. The average daily production was 7,000 barrels.