Abo Qir Petroleum Company has concluded the drilling of a new exploratory well in the company’s development concession in Abu Qir North field, offshore Nile Delta as part of its drilling plan for the 2011-2012 fiscal year.

The natural gas-producing well, labeled NOQ PII-5 ST-1, was drilled via the use of the O.SPUR rig to a depth of 11,445 feet. Costs of the operation reached $17.6 million.

Abo Qir’s output during the month of February reached 1,358,440 cubic feet of natural gas and 167,643 barrels of crude oil.

Abo Qir is a joint venture between the Egyptian General Petroleum Corporation and the Improved Petroleum Recovery Group (IPR).