Apex International Energy Receives Two Blocks In Egypt’s Western Desert

Apex International Energy Receives Two Blocks In Egypt’s Western Desert

Apex International Energy said Dec. 2 it was awarded blocks 8 and 9 in the Abu Gharadig Basin in Egypt’s Western Desert by the Egyptian General Petroleum Co. (EGPC) from its 2016 bid round.

Block 8 West Badr el Din and Block 9 South East Meleiha cover 6,714 square kilometers (2,592 square miles or 1.7 million acres) in total.

Apex has committed to invest $27.4 million during the first exploration phase, to acquire and process 3D seismic and drill six exploration wells.

Roger B. Plank, founder and CEO of Apex International Energy, said,

“We are delighted that EGPC has awarded Apex our first concessions in Egypt, enabling us to establish a foothold in the prolific Western Desert. With 1.7 million acres now in hand, this is an important step in our mission to build an oil and gas business of scale in Egypt and we are eager to start investing in the considerable potential of these Blocks.”

Source: Apex

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