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Oil & Gas

Apache eyes $1 billion fresh investments in Egypt

Posted: April 10, 2016 at 12:54 pm   /   by   /   comments (0)

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U.S.-based oil explorer Apache will inject around $1 billion worth of fresh investments in Egypt during the fiscal year 2016/17, the Ministry of Petroleum said in a statement Friday.

However, the statement did not define the new investments to be carried out by the U.S. firm.

Apache’s investments in Egypt currently are valued at $12 billion in 23 concessions of which 20 are producing oil.

(Source: Mubasher)

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