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Tag: Apache

Offshore Technology: As firms flock offshore Egypt, can the nation reverse its energy fortunes?

Posted: April 2, 2017 at 9:03 pm   /   Oil & Gas

Egypt’s recent signing of three exploration agreements with Total, Eni and BP are just the latest in a flurry of offshore activity following a major gas discovery by Eni in 2015. The Egyptian government is keen for the country to prosper from its resource wealth, to repay mounting debt and end a reliance on energy […]

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Prime Minister & Minister of Petroleum meet with Apache CEO

Posted: April 2, 2017 at 8:45 pm   /   Oil & Gas

Prime Minister Eng. Sherif Ismail received yesterday John Christmann, the Chief Executive Officer of Apache, and James House, Senior Region Vice President for Apache, and David Chi, Regional Vice President and Apache Egypt General Manager, in the presence of Eng. Tarek El Molla, Minister of Petroleum and Mineral Resources. At the meeting, the Prime Minister […]

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Petroleum Minister meets with Sinopec Head, Apache VP

Posted: February 21, 2017 at 12:47 pm   /   Oil & Gas

Petroleum Minister Tarek El Molla met with the head of China’s state-owned Sinopec, Wang Yupu, who said his company is mulling a petrochemical project in the Suez Canal Economic Zone, Al Masry Al Youm reports. Also present at the meeting was the vice president of Apache, which previously sold a one-third stake in its Egyptian […]

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Apache Executive: Egypt oil production needs 21st century revamp

Posted: February 16, 2017 at 10:48 pm   /   Oil & Gas

Egypt needs to rethink the joint venture model that has governed its onshore oil industry for the past half century as part of wider reforms to the economy, according to James House, senior region vice president for the country’s largest international oil producer, Apache. At the Egypt Petroleum Show EGYPS in Cairo this week, House […]

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Players’ healthy interest outside Egypt’s Nile Delta

Posted: February 11, 2017 at 2:44 pm   /   Oil & Gas

Future upstream licensing in Egypt’s Nile Delta offshore province may be facing a hiatus, but the most recent round to have been completed by state-owned Egyptian General Petroleum Corporation signalled healthy interest by players in other acreages. Smaller, cash-strapped players were not much in evidence during the 2016 round, covering acreage in the Gulf of […]

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Qarun Petroleum plans $190 million in investments for FY 2017-18

Posted: January 12, 2017 at 8:14 pm   /   Oil & Gas

Qarun Petroleum Company (QPC) plans to inject $190 million in investments in the fiscal year 2017 – 2018, said a press release. “The company seeks to drill 14 wells in FY2017 – 2018,” said Mohsen El-Noby, Chairman. The company’s average daily production recorded 37 barrels up 11% from the previously established target at the first […]

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Khalda Petroleum plans to invest $810 million in FY 2017-18

Posted: January 12, 2017 at 8:11 pm   /   Oil & Gas

Khalda Petroleum Company said it plans to inject $810 million in investments in the fiscal year 2017 – 2018, said CEO, Mohamed Abdel Azim. “The company plans to drill 33 exploratory wells,” added Abdel Azim. Earlier, the company said has reduced the cost of oil produced from the Apache concession area in the western desert […]

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Oil Ministry makes $100 million payment to smaller IOCs

Posted: December 18, 2016 at 11:17 pm   /   Oil & Gas

The Oil Ministry made a USD 100 million payment to IOCs for overdue receivables, Al Mal reported. The payment was not made to major operators, but to smaller companies, including Circle Oil, TransGlobe Energy, and SDX, a source said. The source noted specifically that Circle Oil got 30% of its total receivables with a payment […]

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Apache to drill 20 horizontal gas wells in Apollonia field for $100 million

Posted: December 14, 2016 at 4:36 pm   /   Oil & Gas

Apache intends to spend USD 100 mn for horizontal drilling on 20 natural gas wells in the Apollonia field in the Western Desert, Al Borsa reports. If successful, the vertical wells are expected to produce around 40 mcf/d from limestone. Apache has spent USD 24 mn so far on exploration and testing in the Apollonia […]

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Khalda Petroleum reduces cost of oil production from Apache's Western Desert concession to $4.5 per barrel

Posted: December 6, 2016 at 3:16 pm   /   Oil & Gas

Khalda Petroleum Company has reduced the cost of oil produced from the Apache concession area in the western desert to $4.5 per barrel in the first quarter of the current fiscal year, down from $5. Mohamed Abdel Azim, head of the Khalda Petroleum Company, told Daily News Egypt that the company successfully reduced costs by […]

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