Mr. Miguel Angel Vargas, the General Manager of the Chilean state-owned Sipetrol International S.A., Egypt Branch, announced a new achievement in East Ras Qattara Concession in the Western Desert, with a new production record exceeding 21,000 BOPD from the last drilled Development Well Shahd-SE-6 with an added production rate of 4,800 BOPD during June 2013 as per the fields development plans that were announced during Q1-2013.
Eng. Sayed Rezk, Sipetrol Operations Manager and the Managing Director of the JV Petroshahd, added that this increase is attributed to continuous updating to the fields’ development plans, in addition to the continuous efforts to improve the wells production performance and increase reserves. Eng. Rezk also announced that the Company will start drilling a new exploratory well during Q3-2013 to test the Jurassic play potentiality in East Ras Qattara Concession in the Western Desert, which, in case of finding positive results, will have promising increase of the company’s production of oil and gas.