Africa Oil & Gas: EGPC and Apache Sign Drilling Agreement

Egypt Minister of Petroleum and Mineral Wealth Tarek El-Molla -REUTERSIn Egypt, the Ministry of Petroleum announced that state-run EGPC and US independent Apache Corp. have signed a seven-well oil drilling agreement for the East Bahariya concession.

The agreement was signed by EGPC CEO Abed Ezz el Regal and Apache Egypt Regional Vice President and General Manager David Chi. Both companies are partners on this permit.

Egyptian Minister of Petroleum Tarek el Molla, who signed the statement, said efforts are under way to finalize the signing procedures for 14 new agreements. Nearly 87 new oil and gas exploration agreements have been signed since 2014 in the country.

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