Badr El Din Petroleum Company (Bapetco) has concluded the drilling of 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 one of the new wells, dubbed BED-128, was drilled using the EDC-52 rig to the depth of 10,420 feet, with drilling costs reaching $3.320 million. The new oil-producing well has been added to the company’s overall production numbers.
The other well, named SITRAB-18, was drilled using the EDC-72 rig to a depth of 11,530 feet. Costs of the operation amounted to $2.75 million.
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.
The company’s production rates during the month of February 2012 stood at 1,126,540 barrels of crude oil and 2,118,393 cubic feet of natural gas.
Badr El Din Petroleum is a joint venture company between the Egyptian General Petroleum Corporation (EGPC) and Royal Dutch Shell.