CAIRO – 29 July 2024: Minister of Petroleum and Mineral Resources, Karim Badawi, recently held a productive meeting with Thomas Maher, the CEO of American firm Apex, to discuss and enhance the company's activities in Egypt.
Their focus was on ramping up exploration efforts, augmenting petroleum production, and ensuring the fulfillment of local market demands.
Badawi underscored the paramount importance of boosting production levels within the petroleum sector to cater to domestic needs and alleviate the burden on import expenses.
He stressed the significance of collaborative efforts and the adoption of cutting-edge technologies to drive production escalation and bolster reserves effectively.
Highlighting the success story of the American company in elevating production rates, particularly in aging fields, Badawi emphasized the value of cooperation and technological innovation in achieving mutual benefits for all stakeholders involved.
Maher, on his part, outlined the forthcoming expansion strategies and drilling projects earmarked for implementation in the immediate future.
Noteworthy was the company's completion of 13 wells in its concession zones within the Western Desert, signaling readiness to attract additional investments crucial for executing ambitious development programs.
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