PetroSilah Petroleum Company drilled a new exploratory well, North East Younes to a total depth of 8600 feet.

The drilling cost of the new oil producing well counted for $1.9 million.

Petrosilah was established in May 2010 as a joint venture between the EGPC and MErlon International, responsible for developing the discoveries made in El Fayum exploration block. The company has renewed the block in June 2007 after reducing its size by 25% from 4,529 sq km to 3,500 sq km.

The production rate of PetroSilah averaged 98,285 barrels of oil during last October.