Apache sees ample prospects in Egypt Western Desert basins

07/05/2010
Apache Corp., whose Egyptian subsidiary has doubled its Egypt Western Desert output since 2005, sees much more potential in the area.The company has budgeted 2010 drilling at 220 wells, and chances are fair that number will increase, said Tom Voytovich, vice-president of Apache's Egypt Region. The figure includes more than 50 exploratory wells.Apache drilled 164 wells in Egypt in 2009 when capital was constrained due to the economic downturn.Apache's Egypt production, which comes from formations at 3,000 to below 15,000 ft, is expected to remain close to its present mix of 60%-40% in favor of oil and condensate.An exploration date, in mid-2011, looms on only one of Apache's Egypt concessi...
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