Bapetco has announced a surge in drilling activities in the Western Desert as part of the company’s drilling plan for the current fiscal year 2011/2012. The plan includes two drilling operations for both an exploratory well and a developmental well in the company’s Western Desert concession.
The exploratory well is labeled BED 3C10-1, and was drilled to a depth of 11,598 feet via the EDC-51 rig. The well is crude oil-producing, but has yet to be added to the company’s overall production. Investments in the well reached $2.804 million.
Sources were able to disclose that the company has also drilled a new developmental well in January of the current year 2012. The well, named BED 1-25, attracted $2.363 million in investments. The crude oil-producing well was drilled using the EDC-52 rig, to a depth of 12,225 feet, and was subsequently added to the company’s overall production.
Bapetco was producing 1,191,597 barrels of crude oil per month as of January 2011; the company’s production rates for January 2012 were at 1,148,590 barrels per month.
Bapetco is a joint venture between the EGPC, representing the Egyptian government, and Dutch oil giant Shell.