Petrosilah Drills new Well in Fayoum Development Blocks

Petrosilah Petroleum Company has completed the drilling of a new developmental well onshore Gindi Basinin located in the company’s Fayoum development blocks in Western Desert. The operation comes in the context of Petrosilah’s drilling plan for the 2011-2012 fiscal year.

At a cost of $1.71 million, the new well, SILAH-8, was drilled to the depth 7,185 feet using the EDC-53 rig. The oil-producing well was added to the company’s total production numbers.

The company’s monthly production stood at 104,086 barrels of crude oil last February, down from 106,705 barrels in January.

Petrosilah is a subsidiary of the US-based Merlon International and is jointly owned by the Egyptian General Petroleum Corporation (EGPC.)


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