Petrodara has undertaken the drilling of a new developmental well, ARTA-34-ST-1 in the company’s fields in its Eastern Desert, as part of the development plan for the 2011-2012 fiscal year.

The oil-producing well was drilled using the ST-7 rig, to a depth of 3,933 feet; production from the well is yet to be added to Petrodara’s overall numbers. Costs of the drilling operation reached $650,000.

During March 2012, Petrodara production figures stood at 369,373 barrels of crude oil.

Petrodara is a joint venture between the Egyptian General Petroleum Corporation (EGPC) and German company Dublin.