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

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