Newsletter subscribe
Tag: Apache

EGPC signed 3 oil & gas exploration agreements worth $50 million

Posted: December 10, 2017 at 7:27 pm   /   Oil & Gas

The Egyptian General Petroleum Corporation (EGPC) has signed oil and gas exploration agreements with three international companies worth a combined USD 50 million, an Oil Ministry official tells Al Borsa. These include a USD 20 million oil and gas exploration agreement with Apex International in the West Badr El Din concession in the Western Desert, […]

No Comments read more

OilPrice: New agreements shake up Egypt’s oil & gas market

Posted: September 6, 2017 at 5:17 pm   /   Oil & Gas

The latest agreements signed by the Egyptian Ministry of Petroleum has caused recovery in Egypt’s oil and gas sector, world’s leading magazine OilPrice said in a Monday report. The new contracts will be the start of a wide-range campaign to revive the sector, which was hampered over the past few years, OilPrice added. Last week, […]

No Comments read more

Egypt signs 3 contracts with Apache, Merlon for Western Desert oil and gas exploration worth $79 million

Posted: August 26, 2017 at 8:19 pm   /   Oil & Gas

The Minister of Petroleum and Mineral Resources, Tarek al Molla, signed three new agreements for oil and gas exploration in the Western Desert of Egypt with the Egyptian General Petroleum Corporation and the American companies Apache and Merlon, with a minimum investment of about $79 million, a statement from the ministry said on Saturday. The […]

No Comments read more

El Molla: Increased exploration and production rates due to political stability

Posted: August 19, 2017 at 8:29 pm   /   Oil & Gas

Minister of Petroleum Tarek El Molla said that Egypt’s success in attracting petroleum investments and increasing investment in research and exploration were driven by several factors, foremost of which is the political stability witnessed by Egypt and the continuous support of the state to the oil sector, which is full of distinct experts and various […]

2 Comments read more

Apache JVs Khalda, Qarun produce 120 million barrels of oil in FY 2016/2017

Posted: August 16, 2017 at 9:57 pm   /   Oil & Gas

Apache and EGPC Joint Ventures Khalda and Qarun Petroleum Companies together pumped out 120 million barrels of oil in the last fiscal year, according to Al Shorouk. Khalda spent USD 502 million and churned out 107 million barrels, while Qarun spent USD 137 million for an output of 13 million barrels. (Source: Enterprise.press)

No Comments read more
Apache

Apache predicting lower results for Q2 2017

Posted: August 3, 2017 at 3:37 pm   /   Oil & Gas

Egypt-heavy driller Apache is warning investors that its Q2 numbers are going to come in lower than forecast, Madison reports. The oil and gas exploration firm is predicting it will report lower numbers today and investors will be looking at their Alpine High exploration in Texas, which has been a point of focus lately. Moreover, […]

No Comments read more

Egypt to launch new oil exploration tender by end of 2017 – El-Molla

Posted: July 17, 2017 at 3:07 pm   /   Oil & Gas

Egypt is planning a new tender for crude discovery and exploration before the end of 2017, Petroleum Minister Tarek El-Molla said Saturday. Egypt will sign soon contracts with Apache Corporation, Apex International Energy, and Shell for five oil exploration blocks in the Western Desert, the minister added. Egypt, which used to be a net energy […]

No Comments read more

Khalda makes eight new petroleum discoveries in FY2016/17

Posted: June 6, 2017 at 4:21 pm   /   Oil & Gas

Minister of Petroleum visits Khalda Petroleum’s fields. The Minister of Petroleum and Mineral Resources, Tarek El Molla, visited Khalda Petroleum’s concessions in the Western Desert, accompanied by the Ministry’s First Undersecretary for Oil and Gas Affairs, First Undersecretary for Agreements and Exploration, the Egyptian General Petroleum Corporation (EGPC)’s CEO and Vice Chairman, the Egyptian National […]

No Comments read more

Khalda to invest $800 million in drilling in FY 2017-18

Posted: June 6, 2017 at 3:21 pm   /   Oil & Gas

Apache JV Khalda Petroleum will invest USD 800 million in drilling 53 development wells and 38 exploratory wells in FY 2017-18, Al Mal reports. The company’s production is expected to surpass 151,000 bbl/d of crude, condensates, and butane, and 800 mcf/d of gas. Khalda will also conduct 3D seismic surveys in West Kalabsha and Khalda-3 […]

No Comments read more

Sinopec downplays concerns about its investment in Egypt

Posted: May 24, 2017 at 1:30 pm   /   Oil & Gas

China Petroleum & Chemical Corp, or Sinopec, has played down concerns about potential risks to the value of its investment in the Apache project in Egypt. Sinopec’s clarification came in response to concerns that the value of its 33 percent stake in Apache’s Egyptian company, which it bought for $3.1 billion in 2013, may have […]

No Comments read more