Badr El Din Petroleum Company (Bapetco) has completed drilling two new developmental wells in its Western Desert concession area as part of its development plan for the 2011/2012 fiscal year.
Egypt Oil and Gas has learned that the oil-producing BED-1-27 was drilled via the EDC-42 rig, reaching the depth of 12,789 feet. Drilling investments in the well have reached $3.091 million. The new oil-producing well has been added to the company’s overall production numbers.
In the Sitra development lease located in Abu Gharadiq Basin, Bapetco drilled SITRA 8-19. It was drilled using the EDC-72 rig to a depth of 11,644 feet. Costs of the operation amounted to $2.541million and the well has yet to be added to the company’s overall production figures.
The company’s production rates during the month of Aprl 2012 stood at 745,817 barrels of crude oil, 352,803 barrels of condensate and 2,120,893 barrels of oil equivalent of natural gas.
During the previous fiscal year, Bapetco successfully drilled 34 wells, and the company is looking to drill 44 exploratory and developmental wells in the current fiscal year 2011/2012 in order to boost total production of crude oil and natural gas.
Bpetco is a joint venture company between the Egyptian General Petroleum Corporation (EGPC) and Royal Dutch Shell.