Apache
Christmann added that his company looks forward to the government's support to continue implementing its expansions in the Egyptian market, and to sustain its extended partnership with Egypt.
The talks tackled the company's current and future activities in Egypt in the fields of petroleum and natural gas, Presidential Spokesman Ahmed Fahmi said.
“We have seen a high demand for oil, and we expect in the coming decades a high demand, as there are 10 percent of the world's population in need of an affordable energy price,” Christmann added.
The American company’s efforts contribute significantly to the exploration and production of oil and gas, in a manner that supports this sector and contributes to Egypt’s transformation into a regional hub for the production and trading of energy in the Eastern Mediterranean.
The Ministry of Oil said the agreement comes as part of joint efforts to develop and modernize the concession areas of Khalda Petroleum Company and Qarun Petroleum Company to achieve the optimum use of investment potentials in the region.
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.
This came on the sidelines of Egypt Petroleum Show (EGYPS 2020) held in Cairo on February 11-13.
Only $90 billion will be generated from commercial sales, while the rest will be the revenues of the defense division.
Minister of Petroleum Tarek el Molla has discussed with John J. Christmann, the Chief Executive Officer and President of US Apache Corporation.
International oil and gas company APACHE plans to drill 50 wells in Egypt through the national companies Khaleda and Qaroun.
Egypt will organize an investment forum in 2018 to showcase investment opportunities to potential American investors.
A wrap-up for the most prominent news circulated during the day.
A wrap-up for the most prominent news circulated during the day.
A wrap-up for the most prominent business news of the day.
Egypt signed 83 oil and gas exploration agreements over the past four years.
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