Apache to inject more investments in Egypt

The energy giant plans to inject more investments in the coming period with the aim of intensifying drilling activities and increasing production

  
Image used for illustrative purpose. Flames shoot out of a chimney at Alexandria National Refining and Petrochemicals Company (ANRPC) along a highway of Alexandria, Egypt March 5, 2019.

Image used for illustrative purpose. Flames shoot out of a chimney at Alexandria National Refining and Petrochemicals Company (ANRPC) along a highway of Alexandria, Egypt March 5, 2019.

REUTERS/Amr Abdallah Dalsh
 

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, Masrawy reported on July 5th.

Apache, a direct, wholly-owned subsidiary of APA Corporation, is interested in expanding its activities in the petroleum exploration and production sector confirms that the Western Desert still has promising petroleum prospects.

The energy giant plans to inject more investments in the coming period with the aim of intensifying drilling activities and increasing production.

Christmann said that Apache has invested more than $20 billion to produce above 2 billion barrels of equivalent oil over 25 years.

 

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