Apache plans more investments in Egypt's petroleum sector

Apache has invested more than $20bln over the course of 25 years


Cairo - Mubasher: Egypt’s Minister of Petroleum Tarek El-Molla met with the Chairman of Apache Corporation, John Christmann, to discuss the company’s plans in the most populous Arab nation.

The energy giant’s interest in expanding its activities in the petroleum exploration and production sector confirms that the Western Desert still has promising petroleum prospects, El-Molla pointed out in a statement on Monday.

Apache plans to inject more investments in the coming period with the aim of intensifying drilling activities and increasing production, Christmann revealed.

Over the course of 25 years, Apache has invested more than $20 billion to produce above 2 billion barrels of equivalent oil, he added.

Source: Mubasher

All Rights Reserved - Mubasher Info © 2005 - 2021 Provided by SyndiGate Media Inc. (Syndigate.info).

Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.

More From Energy