PetroShahd Petroleum Company finished the drilling of yet another developmental well in the Abu Gharadiq Basin located in the Western Desert, as part of its drilling program for the fiscal year 2011/2012.

The new well, SHAHD SE-S, has cost $2 million worth of investments. The crude oil-producing well was drilled using the ECPC-7 rig to the depth of 7842 thousand feet.

Its worthy to note that PetroShahd is a joint venture company that includes the EGPC with 50% interest, Kuwait Energy with 24.75% and the Chilean Sipetrol with the remaining 25.25%.