Khalda Petroleum Company has concluded drilling of the new AG-85 developmental well in the company’s lease located in Abu El Gharadiq South field, Abu Gharadiq Basin of the Western Desert.
The new well comes in the context of its development plan for the current fiscal year.
The oil-producing well was drilled at 11,950 feet using the ST-6 rig, and its production figures has been added to the company’s overall rates. $3 million of investments were pooled into the operation.
During March 2012, Khalda’s production figures stood at 4,483,100 barrels of crude oil and 4,829,821 cubic feet of natural gas.
Khalda Petroleum is a joint venture company between the Egyptian General Petroleum Corporation (EGPC) and US-based operator Apache.