West Bakr Petroleum Co is offering a bid to rent a new rig for the drilling plan of the current fiscal year 2010-2011 in its acquisition area of Eastern Desert.

Egypt Oil & Gas newspaper learned that the drilling plan includes the drilling of two new exploratory and development wells. The total cost of the two wells is $6million, compared to last year’s fiscal of $3million of drilling a well in the H16 field.

It is worth mentioning that West Bakr is a joint venture company between EGPC and EPEDECO.