U.S Apache Corporation Chairman and Chief Executive Officer, Steven Farris praised the “fruitful mutual cooperation” between the company and the Egyptian petroleum sector, which has contributed to the company’s successes in Egypt, especially in the Western Desert.
Farris added that over their 15-year operations journey in Egypt, the company had a series of successful achievements, worth approximately $8 billion.
These announcements were made after the joint session of talks held by the Egyptian Minister of Petroleum, Eng. Sameh Fahmy with Apache’s CEO and the accompanying delegation in the presence of the heads of the oil and gas holding companies and those operating in the Western Desert.
Eng. Fahmy highlighted that the volume of successful attainments in this area is an excellent indicator that the Western Desert is one of the promising locations that will greatly contribute to increasing the country’s oil, condensate and gas production rates, which count for nearly 40 percent, as well as supporting the reserves. “The recent discoveries made at deep layers sustaining the probable presence of huge oil pools at large sizes and the availability of infrastructure in the region, contribute to the quick development of new discoveries to be placed on production line.”