Apache Corporation’s President and CEO, John J. Christmann, said that the firm has plans to increase investments in Egypt through using cutting-edge oil and gas exploration technologies, citing Ahram Online.

During the annual meetings of the International Monetary Fund (IMF) and the World Bank (WB) in Washington, Christmann told the Prime Minister, Mostafa Madbouly, that Apache believes Egypt’s petroleum sector has a promising future, especially amid massive development observed by the sector throughout the previous years.

The Minister of Petroleum and Mineral Resources, Tarke El Molla, was present at the meeting and praised the fruitful cooperation with Apache. He also asserted President Abdel-Fattah El Sisi’s appreciation of the company’s efforts and its support of the country’s economic reform program.