Egypt Oil & Gas learned that Esh El Mallaha Petroleum Company (Eshpetco) asked the Egyptian General Petroleum Corporation (EGPC) for lending it a rig from one of the other sister companies which is close to its concession area or even through issuing a bid round.
The rig will be used in drilling within the company’s concession area in Esh El Mallaha in the Western desert. Besides, it is expected to drill when the other sister company’s drilling process is halted.
Eshpetco determined the power capacity of the rig which will be borrowed or even hired by 1500hp.
Moreover, the rate of its hiring is estimated by $12.000 per day. In addition, it will be used in drilling an exploratory well in the company’s concession area in the Western Desert.
Eshpetco is a joint-venture company between EGPC and the Russian LUKOIL oil company.