Special to WorldTribune.com WASHINGTON — A leading U.S. contractor has teamed with China to explore for energy in Egypt. Apache Corp. said it intends to form a partnership with China’s Sinopec International Petroleum Exploration & Production Corp. Apache said Sinopec would pay $3.1 billion for a 33 percent stake in the crude oil and natural […]
Special to WorldTribune.com WASHINGTON — Egypt’s Western Desert has become a prime location for energy reserves. The U.S. firm Apache Corp. has reported seven crude oil and natural gas discoveries in the Western Desert over the last three months. Apache, based in Houston, Texas, said four of the discoveries were in the Faghur basin with […]
Special to WorldTribune.com CAIRO — A leading U.S. contractor plans to invest another $1.5 billion in Egypt’s energy sector. Officials said Apache Corp. would invest another $1.5 billion in operations in Egypt in 2012. The officials said this marked the largest expansion of foreign investment in Egypt since the ouster of President Hosni Mubarak in […]
Special to WorldTribune.com CAIRO — A Western contractor has expanded its search for energy in Egypt’s Faghur basin. A leading U.S. contractor has reported the development of a crude oil reserve in the Western Desert. Apache Corp., based in Houston, Texas, said its Tayim South 1-X well flowed at a rate of 8,196 barrels of […]