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 February.

Apache has been one of the largest energy developers in Egypt.

The company has focused on expanding operations in Egypt’s Western Desert, believed to contain significant reserves of crude oil and natural gas.

Over the last year, Egypt has reported a significant drop in foreign
investment amid civil unrest.

Officials said foreign direct investment dropped from $6.2 billion in the year that included 2009 and 2010 to $2.1
billion for 2010-2011.

  Apache Corp., drop in foreign investment amid unrest, U.S. energy firm investing billions in Egypt’s Western Desert