Arab Finance: The American company Apache plans to increase its daily production of natural gas by 11% to reach 500 million cubic feet, and invest about $1.3 billion to raise its production of crude oil through Khaleda Petroleum Company – a joint company with the Egyptian General Petroleum Corporation – during the current fiscal year, according to For Arabic.
Khaleda Petroleum Company intends to increase its production of crude oil and condensates by 5% to 145 thousand barrels per day. Khaleda is also looking forward to introducing a new drilling platform in the Abu Al-Gharadig field in the Western Desert next November, as part of its efforts to boost production.
The company said last July that its goal is to enhance its production in the coming period, in light of the availability of many opportunities to make new discoveries, and Apache has plans to invest $1.4 billion in exploration and production activities in Egypt during this year as part of a broader plan to spend $3.5 billion. Dollar in Egypt by 2027.
Related news
