The American company Apache plans to invest $3.5 billion in Egypt over the next five years for exploration and production in the Western Desert. Starting in March, the US company will launch an intensive drilling program, aiming to add 80 million cubic feet of natural gas per day with investments exceeding $60 million.
Apache aims to increase its natural gas output from 450 million cubic feet per day to 500 million by the end of FY 2024/2025. The Egyptian government is working to secure sufficient gas supplies for rising domestic demand, especially for electricity during summer.
Currently, Apache's Western Desert fields produce over 220,000 barrels of oil equivalent per day, including crude oil, condensates, and natural gas. The company increased crude oil production in FY 2022/2023 from 113,600 to 121,000 barrels per day, investing $1.3 billion in exploration and development.
