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Tag: Khalda Petroleum
Apache Acreage

Apache can spend up to $900 mn at its Western Desert concessions this year

Posted: October 6, 2020 at 2:02 pm   /   Oil & Gas

US oil and gas producer Apache could spend as much as  USD 900 million at its Western Desert oil concessions this fiscal year if oil prices mount a recovery, Al Mal reports, citing a senior official at the Egyptian General Petroleum Corporation (EGPC). The company spent some USD 840 million in Egypt last fiscal year […]

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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 […]

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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)

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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 […]

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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 […]

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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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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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Apache allocates $909m for drilling 97 wells in 2016/2017 – Head of Khalda

Posted: November 22, 2016 at 12:56 pm   /   Oil & Gas

Company in discussions with foreign partner to increase investment and review plan in January. US company Apache plans to drill just under 100 wells in the western desert at a cost of $908.9m this fiscal year. This project is divided into 74 development wells at a cost of $552.5m and 23 exploratory wells at a […]

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President Sisi approves amending EGPC-Apache exploration agreement

Posted: August 9, 2016 at 8:10 pm   /   Oil & Gas

Egyptian President Abdel Fattah al-Sisi issued a decree Monday granting petroleum ministry the permission to amend the agreement on oil exploration in Khalda region in Western Desert. The agreement was signed between state’s General Petroleum Corporation (EGPC) and Apache Khalda Corporation LDC company. This comes after the Egyptian parliament approved the decree. Apache operates in […]

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Apache extends Western Desert oil drilling for five years with $40m investment

Posted: June 24, 2016 at 8:02 pm   /   Oil & Gas

American wildcat oil and gas exploration firm Apache Corporation has agreed a five-year extention to its Khalda-2 drilling concession in the Western Desert, with an expected investment of US$40 million. The agreement was signed by Petroleum Minister Tarek al-Molla, the Egyptian General Petroleum Corporation’s Chief Executive Tarek al-Hadidy and David Chi, the Vice-President of Apache. […]

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