Apache Corp. announces oil find in Egypt’s Western Desert
The Houston-based Apache Corporation has announced the first commercial oil discovery on its Ras El Hekma Concession in Egypt's Western Desert.
The discovery took place about 4 km northeast of an existing pipeline serving Apache's Tarek Field and gas plant. Apache operates the concession with a 90 percent contractor interest. Novus owns the remaining 10 percent contractor interest.
The Apache management was clearly delighted at the proximity of the finding to its existing facility. "We've only drilled two wells on this concession, so it is nice to have a sizable discovery right out of the gate," said Rodney J. Eichler, Apache's regional vice president and general manager for Egypt. "We should have it on production by yearend. The far Western Desert is proving to be a bonanza for Apache; our nearby Khalda/Khalda Offset Concession is the company's most valuable property."
Apache Corporation is a large oil and gas independent company with operations in the United States, Canada, Egypt, Western Australia, China, Poland and Argentina. – (MENA Report)
© 2001 Mena Report (www.menareport.com)
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