The Egyptian General Petroleum Corporation (EGPC) and Apache signed a joint marketing agreement for Qarun’s mixed crude oil. The agreement was signed in the presence of Tarek El Molla, Egyptian Minister of Petroleum and Mineral Resources, and John Christmann, CEO and President of Apache Corporation.
Alaa El Batal, Chairman of the Egyptian General Petroleum Corporation (EGPC) signed the agreement with David Chi, Vice President and General Manager of Apache Egypt. The agreement comes in light of the petroleum sector’s keenness to cooperate with foreign partners in facing the current global challenges in the global market. It entails both parties exporting their share of the raw materials of Qarun’s mixed crude oil to the global market for the first time, ultimately benefiting both parties. Moreover, it enhances the value of Egyptian crude in the global market.