Qarun Petroleum Company (QPC) drilled a new development well, KNW-3 in its Karama Development Lease, Abu Gharadiq Basin, Western Desert.

The well was drilled to a total depth of 8280 feet, by the EDC-49 rig.

According to an official source, Qarun invested approximately $1.105 million in this drilling operation.

The drilling of the KNW-3 is part of the company’s development plan of the fiscal year of 2011/2012.

Qarun, the joint venture between the EGPC and Apache Corp., reached its highest daily production record ever during last August, which counted for 60 thousand barrels.