PetroShahd Petroleum Company finished the drilling of yet another developmental well in the Abu Gharadiq Basin located in the Western Desert, as part of its drilling program for the fiscal year 2011/2012.
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.
Egypt Oil and Gas newspaper (EOG) learned that PetroShahd Company is waiting for the confirmation of the fiscal budget during their current meeting of the board of administration.
PetroShahd Company has finalized a deal with Petroleum Pipelines Company (PPC) to transfer the crude oil produced by the company to the shipping area of PPC in Mostorod, official source told Egypt Oil & Gas.