Apache oil company to increase prospecting for oil, production activities in Egypt
Egypt, Economics, 12/5/2001

Oil cooperation between Egypt and the US is increasing, US Apache oil company Board Chairman Raymond Plank said Tuesday after a meeting with President Hosni Mubarak, adding that his visit was aimed to boost that cooperation.

Plank said he discussed with Mubarak bolstering the company's role in digging for oil in the Western Desert region.

Apache has been working in Egypt for six consecutive years, with an investment worth of three billion dollars, Plank said, stressing his company's confidence in Egypt's energy sector.

Plank called for more flexibility and perks to be able to increase his company's activities in Egypt.

On his part, Oil Minister Sameh Fahmy said the September 11 attacks on the US did not affect Apache's work in Egypt or the Egyptian oil sector.

The company believes the Western Desert has great oil potentials, Fahmy said, and they came to verify their expectations.

Previous Stories:
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  COMESA underlines activating inter-economic cooperation   (12/3/2001)
  EU Parliament approves trade partnership agreement with Egypt   (12/1/2001)

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