Middle East Economic Survey

VOL. LIII

No 6

8-Feb-2010

EGYPT

Apache Signs New Western Desert Exploration Agreements

Egypts Ministry of Petroleum has signed two agreements with US oil firm Apache Corporation and state-owned Egyptian General Petroleum Corporation (EGPC), for the exploration and exploitation of hydrocarbons in Egypts Western Desert. Under the terms of the agreements, which cover 6,400 sq km west of the Nile Delta, Apache will drill 13 exploration wells and invest $55mn, according to a...