Shared rig for Petzed and Sipetrol

Coordination is underway between Petzed and Enap Sipetrol to hire a drilling rig in their side-by-side concession areas located in El Romana in North Sinai. The shared rig will be 1500hp.

The rate of hired rig is about $12.000 per day.

Both companies will drill two commitment wells each. Besides, afterwards they will drill two extra optional wells based on the results of the first two. The drilling process will begin by next October.
Petzed is a fully owned subsidiary of National Petroleum Company (NPC).


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