Egypt facilitates oil exploration for Apache as it expands investment

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Wed, 14 Jul 2021 - 02:42 GMT

ٍPresident Abdel Fattah el-Sisi in a meeting with Apache's CEP John Christmann and Minister of Petroleum Tarek el-Mulla - Press photo

ٍPresident Abdel Fattah el-Sisi in a meeting with Apache's CEP John Christmann and Minister of Petroleum Tarek el-Mulla - Press photo

CAIRO – 14 July 2021: Egypt will eliminate any obstacles to the work of U.S. oil company Apache in Egypt as it expands oil exploration in the country, according to a Wednesday statement on the meeting of President Abdel Fattah el-Sisi and Apache’s CEO John Christmann.

Minister of Petroleum Tarek al-Mulla and other senior officials attended the meeting, where the investment plans for the next few years of the largest oil producer in Egypt were presented.

Sisi welcomed the recent agreement with Apache to increase its oil exploration and production in Egypt as part of the latter’s endeavors to become an energy hub in the region, expressing appreciation for Apache’s corporate responsibility in the country.

The president emphasized the strategic relations between Egypt and Apache, as well as all U.S. companies in the framework of the distinguished ties of the two countries.

Christmann praised the “ambitious vision” of Sisi, leading Egypt to a successful developmental and economic example regionally and internationally.

He said Egypt is at the forefront of countries that Apache eyes for further investment considering the positive investment environment in the North African state.

He added that Egypt has all the factors necessary for that approach, including the geographical location, continuous discoveries of gas and oil, and advanced infrastructure.  

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