Apache reported two new oil discoveries and a significant appraisal in the Faghur Basin in the far southwest of Egypt's Western Desert oil and gas province.
The Pepi and Buchis discoveries set up several additional exploration drilling opportunities on trend, and the Faghur-8X significantly increased the size of the field and set up a number of follow-up development drilling opportunities.
Current gross production from the Faghur Basin is approximately 24,000 barrels of oil per day. Additional infrastructure projects are expected to bring processing and transportation capacity from the basin to 40,000 barrels of oil per day before year-end 2010. In the second quarter, Apache's gross production in Egypt totaled approximately 181,000 barrels of oil and 789 MMcf of gas per day; Apache's net production during the period totaled approximately 98,500 barrels of oil and 388 MMcf of gas per day.
Apache has drilled five discoveries among eight exploration wells in the Faghur Basin during 2010. Drilling is under way on two wells - WKAL I-3X and Nebra-1X - and five additional exploration wells are planned. Apache continues to evaluate 3-D seismic surveys - including a recently completed 155-square-mile (400 km2) survey - to identify additional exploration opportunities in the basin, which extends across portions of several Apache-operated concessions.
"The Faghur Basin continues to be a successful focus area for Apache, with AEB and Safa reservoirs that have proven to be prolific oil and gas producers. These recent discoveries support the multi-pay potential of this oil-prone area of the Western Desert," said Tom Voytovich, vice president of Apache's Egypt Region.
"These discoveries also provide additional evidence of the exploration potential on Apache acreage in Egypt and the benefits of working in stacked-pay areas," he said.
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