New oil discoveries in the Western Desert of
Egypt are indicative of the abundant resources west of the Nile River, an executive at Apache Corp. said.
Apache Corp., an independent energy company with headquarters in Texas, announced that it uncovered two new oil discoveries in the Western Desert in
Egypt.
The two discoveries in the Phiops field and the Faghur field yielded more than 6,000 barrels of oil per day during testing, the company said in a
statement.
Apache said current oil production from the region is around 24,000 bpd, though expansions in the infrastructure associated with fields in the
Western Desert could bump that level to 40,000 bpd by the end of the year.
Tom Voytovich, the vice president of Apache's operations in Egypt, said the new discoveries were a sign of the "prolific" resources available in the
country.
Apache said it uncovered five discoveries from eight exploration wells in the region this year.
The company in July said it acquired assets in Texas, New Mexico and Egypt from British oil company BP. Apache said it was also taking most of BP's upstream gas business in a $7 billion deal that includes 385 million barrels of oil equivalent.