Agiba Petroleum Company is reaching the final phase of drilling four new exploratory wells in the company’s concession area in the Western Desert, according to its drilling plan of the fiscal year of 2010-2011.
“Sino Tharwa Drilling Co, Weatherford International, and the Egyptian Drilling Company (EDC) will be among the operating companies to drill in Melehia and West Qattara fields in the Western Desert,” said a top EGPC official to Egypt Oil & Gas Newspaper.
The total drilling investments count for $13 million. “The investments also included conducting development operations for some of the wells in the same acquisition area,” added the EGPC source.
Agiba is a joint venture operating company for exploring, drilling and producing hydrocarbons in Egypt, and the shareholders are the Egyptian Petroleum Corporation (EGPC) and the Italian Eni.