Subsidiary: Apache Corporation

Apache has decades of exploration, development and operations experience in Egypt and is one of the largest acreage holders in Egypt’s Western Desert. The company’s primary interests are in the Western Desert with high-impact exploration targets in both new and legacy acreage. Apache employs thousands of people in Egypt through its joint venture company.

A key component of Apache’s success in Egypt has been the ability to acquire and evaluate 3-D seismic surveys that enable the technical teams to consistently high-grade existing prospects and identify new targets across multiple pay horizons in the Cretaceous, Jurassic and deeper Paleozoic formations. The company has completed seismic surveys covering more than 3 million acres, which has led to recent discoveries that build and enhance the Company’s drilling inventory in Egypt.

The company is focused on several environmental initiatives in Egypt and delivered on its 2022 upstream flaring reduction goal. The company flared 40% less gas than would otherwise be flared by compressing the flared gas into sales lines.

In 2021, the company announced the ratification of a modernized production sharing contract (PSC) with the Ministry of Petroleum and the Egyptian General Petroleum Company.

At year-end 2023, the company held 5.3 million gross acres in six separate concessions. Approximately 67% of the company’s gross acreage in Egypt is undeveloped, providing considerable exploration and development opportunities for the future. The operations in Egypt, including a one-third noncontrolling interest, contributed 35% of 2023 production and 21% of year-end estimated proved reserves.

Please note, the data on this page is current as of Dec. 31, 2023. For the latest on Apache’s Egyptian operations, please see our quarterly updates and disclosures on the Investors page.