Apache Corporation will adopt a new exploration plan which includes drilling 50 new wells during fiscal year (FY) 2018/2019, via Qarun and Khalda oil companies, according to company CEO John Christman, Egypt Oil & Gas reports.

Christman revealed the American company’s plans during a meeting with Egyptian Minister of Petroleum and Mineral Resources, Tarek El Molla, to review Apache’s activities in Egypt and its investment ambitions in the fields of oil and gas exploration and production.

El Molla reviewed the most important results achieved by Egypt’s oil and gas sector during the recent period, as well as the economic reforms aimed at attracting further investment into the country’s  energy sector.

The minister and his guest discussed the developments of the oil and gas industry across the region and the globe.