Egypt’s Ministry of Petroleum and Mineral Resources said the US company Apache intends to invest more in its concessions in Egypt’s Western Desert to boost the productivity of aging oil wells.
In addition to intensifying research and exploration activities and making new discoveries in the light of excellent seismic results that have identified potential and promising oil reservoirs.
Today, Monday, Egyptian Minister of Petroleum and Mineral Resources Tarek El Molla said during a meeting with John Christman, President of Apache, that the cutting-edge technologies that the company will provide will open up broader prospects for research and exploration in deep layers, which were previously impossible.
The parties discussed the company’s activities in Egypt on its concession areas, in addition to its plans for the near future, in light of the company’s strong desire to expand its activities in Egypt and increase production, as well as develop the system of work of two joint companies with Apache (Khaleda and Karun) in the light of the signed memorandum of understanding between the two parties in this context during the EGYPT 2022 conference and the activation of the merger of the two companies.
For his part, Christman reaffirmed Apache’s commitment to revitalizing its operations in Egypt as the company’s most important areas of operation in the world, applying the latest technologies in research and exploration, as well as improving the productivity of aging wells, increasing production rates, in addition to facilitating training programs for workers oil sector. He praised the development of Egypt’s energy sector over the past period and the positive steps towards becoming a regional center for oil and gas.
Source: RT