PetroShahd added up some modifications to the company’s 2010-2011 plan in order to keep the volume of its investments in Egypt intact after the political instabilities that the country are going through.
Sipetrol, PetroShahd’s foreign partner, insisted on keeping the company’s operations wheel revolving despite the demonstrations that took place, as the company believes that Egypt is a safe environment for foreign investments.
Egypt Oil and Gas newspaper learned that PetroShahd succeeded in reevaluating the 3D seismic data gathered from the deep oil bearing layers to determine the drilling areas, whether it is exploratory or development areas, in the company’s concession in the Western Desert.
The seismic survey was conducted originally aiming to boost the company’s current production of crude oil.
It is worth mentioning that PetroShahd is joint venture company between EGPC and the Chilean firm Sipetrol.