Madbouly, Apache VP Review Investments, Future Plans in Egypt

Madbouly, Apache VP Review Investments, Future Plans in Egypt

Prime Minister Mostafa Madbouly met with David Chi, Vice President of Apache Corporation and Country Manager for Apache in Egypt, to review the company’s investments and future plans in Egypt.

The meeting was attended by Minister of Petroleum and Mineral Resources Tarek El Molla.

During the meeting, Madbouly praised cooperation between Egypt and Apache Corporation over the years, expressing his aspiration to increase the volume of the company’s investments and business in Egypt.

For his part, Chi affirmed the company’s pride in its work in Egypt, pointing out its contributions to increasing the volume of Egypt’s oil production capacity. He added that Apache has been operating in Egypt for nearly 26 years with an investment volume of more than $20 billion, of which $2 billion was pumped in new investments in the last two years.

Chi praised the efforts made by the Ministry of Petroleum and Mineral Resources in facilitating the company’s work. He highlighted Apache’s keenness to enhance its presence in the Egyptian market and strengthen its partnership with the Ministry.

El Molla praised the distinguished results of the seismic research operations carried out by the company, which showed promising petroleum potential.

El Molla also stated that Apache’s advanced technology will open broader horizons for research and exploration in deep layers that were not possible before. He also reaffirmed the Ministry of Petroleum’s keenness to facilitate all the company’s work in Egypt.

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Sarah Samir 3499 Posts

Sarah has been writing in the oil and gas field for 8 years. She has a Bachelor Degree in English Literature. She has three years of experience in the banking sector.

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