US “Apex” Plans to Increase Oil Production in Egypt’s Western Desert

Roger Blank, Chairman of the Board of Directors of the American company Apex, said that his company is currently studying the expansion of its activities in Egypt in the Western Desert, by acquiring several already producing concession areas.

Blank added that Apex plans to and intensify drilling operations to increase production and maintain production rates from aging fields.

He said, during his meeting with Egyptian Minister of Petroleum Tarek El Molla, on Monday, that "in addition to its 50-50 partnership with Eni, an Italian oil giant, in the East Siwa region, in which Apex manages operations, will implement a work program with investments of $2 million, rising to $3 million in the extension search period.

Blank affirmed that the company's current production rate is about 6,000 barrels of crude oil per day, and it is targeted to reach 7,000 barrels per day.