The Egyptian petroleum sector started to execute a plan aiming to drill eight wells in Fayoum during the current fiscal year. The plan aims to discover more petroleum, which could provide more job opportunities and contribute to the development process. The head of Petroleum Company of Karoon, Mohamed Mones al-Shahat, said the production of petroleum fields increased to 6,000 barrels per day. He added the company managed to achieve high rates of production, clarifying the company produced 60,000 barrels per day in August. Al-Shafat said the company drilled about 55 wells of crude oil this year to produce 15,000 barrels per day. He clarified they managed to increase the production despite the challenges they confronted in 2010 and the political unrest since the Egyptian January 25 Revolution. The Egyptian Minister of Petroleum, Abdallah Ghorab, received a report about the notable increase Egypt achieved in the reserve of crude oil to 268 million barrels. The report expected the current fiscal year will witness an increase with 17 million barrels in new areas of exploration. The report added pumps were installed to transfer 20,000 barrels of the crude oil from the exploration areas to Karoon.