Overview

Egypt

Apache's activity in Egypt began in 1994 with our first Qarun discovery well, and today, Apache is one of the largest acreage holders in Egypt’s Western Desert. At year-end 2015, Apache held 6.7 million gross acres in 24 separate concessions. Approximately 73 percent of our acreage in Egypt is undeveloped, providing the company with considerable exploration and development opportunities for the future.

In 2015, the Egypt region had gross production of 351,785 barrels of oil equivalent (Boe) per day and drilled 97 development and 25 exploration wells. Approximately 60 percent of its exploration wells were successful, further expanding the company's presence in the westernmost concessions and unlocking additional opportunities in existing plays. A key component of the region’s success has been the ability to acquire and evaluate 3-D seismic surveys that enables Apache to consistently high-grade existing prospects and identify new targets across multiple pay horizons in the Cretaceous, Jurassic and deeper Paleozoic formations. Successful development continued in the Ptah and Berenice fields where the company had 12 wells producing at year end.

Sinopec holds a one-third minority interest in Apache’s Egypt oil-and-gas business.

EGYPT OPERATIONAL HIGHLIGHTS

  THIRD-QUARTER
2016
THIRD-QUARTER
2015
Oil production (Bpd) 110,809 97,173
Total liquids production (Bpd) 111,933 98,272
Natural gas production (Mcfd) 405,863 399,434
Barrels of oil equivalent per day 179,575 164,845

 

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