Egypt and Apache Corporation to look for oil and gas in western Sahara Desert

gas-egypt 2Egypt has signed oil and gas search deals with Apache Corporation worth US$44mn in Western Sahara

According to a statement from the Egypt’s Ministry, the drilling in the Western Sahara will also include US$25mn in state grants with Apache Corporation expected to drill 11 new wells.

Seven well are expected to be drilled at Ras Knaess with a total investment of US$28mn Siwa will see the drilling of four wells worth US$16mn, it added.

Sharif Ismail, oil minister of Egypt, said, “Thirty five exploration deals were signed since October 2013, with an estimated investment value of US$2bn and grants of US$242mn to drill 149 wells.”

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