Drilling Alamein Yields Adverse Outcomes

Several recent drilling operations in the Alamein area have resulted in extremely minor output of hydrocarbon, which has prompted several problems among petroleum companies. There is vast financial gap between the cost of drilling in the area, which has reached a shocking $250 million, in comparison to the trivial returns from the already-spudded wells, which has led several companies – most importantly Apache Corporation – to relinquish their concessions in the area back to the EGPC.

Even more shocking are the current efforts by the EGPC to reoffer the same exact area in a new bid round with the total knowledge of the tremendously negative financial losses that would result from drilling this concession area.



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