Esh El Mallaha Petroleum Company (Eshpetco) offers a bid in order to rent a new rig to start conducting its drilling plan for the current fiscal year of 2010-2011 in its acquisition area of West Esh El Mallaha field in Hurghada.

Eshpetco is aiming to boost its production of crude oil from the West Esh El Mallaha field to reach 9800 barrels per day (bpd) by the end of 2011.

It is worth mentioning that Eshpetco’s current production rate is 9500 bpd, and it’s a joint venture company between EGPC and the Russian LUKOIL oil company.