By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
DailynewsegyptDailynewsegypt
  • Home
  • Business
    BusinessShow More
    Lebanese race to gold amid local, global economic uncertainty
    Lebanese race to gold amid local, global economic uncertaintygoldLebanese race to gold amid local, global economic uncertainty
    May 27, 2023
    Iranian president warns of Western bids to cause division among OPEC members
    Iranian president warns of Western bids to cause division among OPEC members
    May 27, 2023
    CBE cooperates with international institutions to digitize supply chains: Assistant sub-governor
    CBE cooperates with international institutions to digitize supply chains: Assistant sub-governor
    May 27, 2023
    Egypt has integrated, full-disclosure programme to attract private sector investment: CBE governor
    Egypt has integrated, full-disclosure programme to attract private sector investment: CBE governor
    May 27, 2023
    EFG Hermes Holding rebrands to EFG Holding
    EFG Hermes Holding rebrands to EFG Holding
    May 27, 2023
  • Politics
    PoliticsShow More
    Armed clashes occur between Iranian, Afghan border guards
    Armed clashes occur between Iranian, Afghan border guards
    May 27, 2023
    UN warns Yemen's food insecurity remains serious threat
    UN warns Yemen’s food insecurity remains serious threat
    May 27, 2023
    Uganda dispatches team to investigate deadly attack on its peacekeepers in Somalia
    Uganda dispatches team to investigate deadly attack on its peacekeepers in Somalia
    May 27, 2023
    Africa Day Egypt celebrates 60th anniversary African unity
    Africa Day: Egypt celebrates 60th anniversary of African unity
    May 25, 2023
    Opinion| Behind the scenes of the US-China conflict over Taiwan’s chips
    Opinion| Behind the scenes of the US-China conflict over Taiwan’s chips
    May 25, 2023
  • Interviews
    InterviewsShow More
    I changed my artistic path to create ‘state of wonder’: Tarek Lotfi
    I changed my artistic path to create ‘state of wonder’: Tarek Lotfi
    May 25, 2023
    I adore Ramadan drama, ‘Telt Al-Talata’ series achieved great success: Ghada Abdel Razek
    I adore Ramadan drama, ‘Telt Al-Talata’ series achieved great success: Ghada Abdel Razek
    May 8, 2023
    We aim to establish Egypt as nearshore centre for Software AG for MET region: Rami Kichli
    We aim to establish Egypt as nearshore centre for Software AG for MET region: Rami Kichli
    April 29, 2023
    Egypt-Spain relations witness remarkable development in recent years: Spanish ambassador in Cairo
    Egypt-Spain relations witness remarkable development in recent years: Spanish ambassador in Cairo
    April 18, 2023
    "Al-Asly" series saw my first leading role in TV drama: Reham Abdel Ghafour
    “Al-Asly” series saw my first leading role in TV drama: Reham Abdel Ghafour
    April 16, 2023
  • Culture
  • Opinion
  • Sports
  • Lifestyle
Reading: Apache to invest $1bn annually in Egypt: Tarek El-Molla
Share
Notification
Latest News
Lebanese race to gold amid local, global economic uncertainty
Lebanese race to gold amid local, global economic uncertaintygoldLebanese race to gold amid local, global economic uncertainty
Business
Armed clashes occur between Iranian, Afghan border guards
Armed clashes occur between Iranian, Afghan border guards
Politics Region
Iranian president warns of Western bids to cause division among OPEC members
Iranian president warns of Western bids to cause division among OPEC members
Business
UN warns Yemen's food insecurity remains serious threat
UN warns Yemen’s food insecurity remains serious threat
Politics Region
Uganda dispatches team to investigate deadly attack on its peacekeepers in Somalia
Uganda dispatches team to investigate deadly attack on its peacekeepers in Somalia
Politics Region
Aa
Aa
DailynewsegyptDailynewsegypt
  • Home
  • Business
  • Politics
  • Interviews
  • Culture
  • Opinion
  • Sports
  • Lifestyle
  • Home
  • Business
  • Politics
  • Interviews
  • Culture
  • Opinion
  • Sports
  • Lifestyle
Have an existing account? Sign In
Follow US
  • Advertise
© 2023 DNE News. All Rights Reserved.
Dailynewsegypt > Blog > Business > Energy > Apache to invest $1bn annually in Egypt: Tarek El-Molla
Energy

Apache to invest $1bn annually in Egypt: Tarek El-Molla

Mohamed Samir
Last updated: 2018/08/22 at 1:14 PM
By Mohamed Samir 2 Min Read
Share
Minister of Petroleum and Mineral Resources Engineer Tarek El Molla
SHARE

American oil giant Apache plans to increase its investments to $ 1bn annually in Egypt, Minister of Petroleum Tarek El-Molla announced on Tuesday.

El-Molla met with John Christmann, CEO of Apache along with an accompanying delegation, where they discussed different means of developinding and expanding the company’s exploration activities in the country, and its investment plans for the coming years in the fields of exploration, and production.

Moreover, the minister explained to company officials the petroleum sector modernisation programme being implemented, Egypt’s investment climate, and the most important successes achieved by the petroleum sector ycurrently.

Apache investments in Egypt exceed $12bn in 23 concession areas, including 20 production regions. The total production of the company reached 212,500 barrels of crude oil and condensate per day, and 883m cubic feet of gas per day of natural gas.

Christmann said that Egypt is an important place for Apache, hence the company’s plans to increase investments in Egypt, adding that Apache desires to set up a joint working group to prepare an action plan for the next five years, including exploration and drilling programs, investment volume and expected production.

He said the drilling work in the new East Bahariya concession in the Western Desert, is due to begin soon after obtaining the necessary permits to the company’s ambitious drilling programme in the region.

You Might Also Like

Environment Minister meets with waste-to-energy investors 

Madbouly witnesses signing of $680m financial close agreement for 500MW Gulf of Suez wind farm

We are waiting for commercial details of LNG import agreement from Egypt: Bulgaria’s Energy Minister

Egyptian President meets with Fortescue Future Industries over green hydrogen opportunities ahead of COP27

KarmSolar announces new minority stake round 

TAGGED: apache, Tarek El Molla
Share this Article
Facebook Twitter Email Print
By Mohamed Samir
Mohamed Samir Khedr is an economic and political journalist, and analyst specialising in geopolitical conflicts in the Middle East, Africa and the Eastern Mediterranean. Over the past decade, he covered Egypt's and the MENA region's financial, business, and geopolitical updates. He is currently the Executive Editor of the Daily News Egypt. Twitter: https://twitter.com/Moh_S_Khedr LinkedIn: https://www.linkedin.com/in/mohamed-samir-khedr/
Previous Article Pristine no more: cruise ships, crowds swamp Montenegro
Next Article Ministry of finance to operate bill to change machines in Metro stations
Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Ad image
Ad image

Stay Connected

Facebook Like
Twitter Follow
Instagram Follow
Youtube Subscribe

Latest News

Lebanese race to gold amid local, global economic uncertainty
Lebanese race to gold amid local, global economic uncertaintygoldLebanese race to gold amid local, global economic uncertainty
Business
Armed clashes occur between Iranian, Afghan border guards
Armed clashes occur between Iranian, Afghan border guards
Politics Region
Iranian president warns of Western bids to cause division among OPEC members
Iranian president warns of Western bids to cause division among OPEC members
Business
UN warns Yemen's food insecurity remains serious threat
UN warns Yemen’s food insecurity remains serious threat
Politics Region
//
Egypt’s only independent daily newspaper in English. Discuss the country’s latest with the paper’s reporters, editors, and other readers.

Quick Link

  • Home
  • Business
  • Politics
  • Interviews
  • Culture
  • Opinion
  • Sports
  • Lifestyle

Sign Up for Our Newsletter

Subscribe to our newsletter to get our newest articles instantly!

© 2023 DNE News. All Rights Reserved.

Join Us!

Subscribe to our newsletter and never miss our latest news, podcasts etc..

Zero spam, Unsubscribe at any time.

Removed from reading list

Undo
Welcome Back!

Sign in to your account

Lost your password?