Badr Petroleum Company (Bapetco) has announced plans to drill two new wells, which are pat of the company’s declared development plan for the fiscal year of 2011/2012.

The first well, OBAJS-1X, is an exploratory oil-producing well. It is situated in Alam El-Shawish West Block in the Western Desert. The well, currently under evaluation, will be drilled using the EDC-55 rig to a vertical depth of 6480 feet, with drilling investments totaling $2 million.

The second well is located within the same concession area. NEAG JG-17 is a developmental crude-producing well. The cost of its drilling has averaged $3.5 million. It was operated using the EDC-51 rig reaching a depth of 11319 feet.

The company’s target for the fiscal year 2011/2012 is to drill 44 wells, which is 10 wells more than last year’s target. Badr Petroleum is a joint venture company between the EGPC and Royal Dutch Shell.