Apache's Egyptian JV Strikes Oil in Western Desert

A joint venture between Apache Corp. and state-run Egyptian General Petroleum Corp., Khalda Petroleum Company made an oil find in the South Umbarka concession in Egypt's Western Desert, reports Reuters, citing a statement by Egypt's Oil Ministry.

According to Reuters, the Phiops-5 discovery well produces 8,350 barrels of high quality oil per day.

The largest producer of liquid hydrocarbons and natural gas in Egypt's Western Desert and the third largest in the country, Apache holds approximately 11.2 million gross acres in 23 separate concessions, 19 of which are producing concessions. Apache's production is operated under its two Egyptian joint ventures, Khalda and Qarun Petroleum Company.




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