Middle East Economic Survey


No 21



Apache Plans Pursuit Of Egyptian Shale Oil And Gas

US independent Apache plans to explore Egypts Western Desert for shale oil and gas later this year, an executive said recently. Apache holds 74,000 acres in the East Bahariya field, and the company believes the field has a shale formation with 700mn-2,200mn barrels of oil, Dow Jones reported Thomas Voytovich, head of Apache in Egypt, as saying during the companys annual investor...