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Friday, September 9, 2011     FOR YOUR EYES ONLY

U.S. firm makes major oil discovery in Egypt's Western Desert, near Libya

WASHINGTON — A U.S. energy firm has found additional crude oil reserves in Egypt.

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Apache Corp. reported two oil discoveries in Egypt's Western Desert near the border with Libya. The Houston, Texas-based firm said the discoveries took place in the Jurassic project, located in the Faghur basin, Middle East Newsline reported.

"The Faghur basin continues to be a successful focus area for Apache, with prolific oil and gas production from the AEB, Safa, and Paleozoic reservoirs that demonstrates the multiple-pay potential of this area of the Western Desert," Apache vice president Tom Voytovich said.

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Executives said Faghur 1X was flowing at a rate of 6,671 barrels of oil and 2.76 million cubic feet of natural gas per day. Apache has been drilling 11 exploratory wells in Faghur — nine of them which yielded energy reserves — in 2011.

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