Cairo – Mubasher: Egypt’s Ministry of Petroleum and Mineral Resources, jointly with the Egyptian General Petroleum Corporation (EGPC), signed an agreement with Apache Corporation under which the latter will spend a minimum of $3.5 billion worth of investments.

Apache, a subsidiary of APA Corporation, will invest in research, exploration, development, and production works related to the concession areas in Egypt’s Western Desert, the ministry announced on Monday.

On 30 November, APA stated that the Egyptian Parliament gave its green light for a previously announced agreement to modernise and consolidate APA’s production sharing contracts (PSCs) with Egypt.

Source: Mubasher

All Rights Reserved - Mubasher Info © 2005 - 2021 Provided by SyndiGate Media Inc. (Syndigate.info).

Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.