Apache comments on Egypt operations amid unrest

Continued violence in Egypt has not affected the operations of Houston-based oil and gas producer Apache Corp, one of the biggest energy players in that country.

Apache extracted an average of 193,000 barrels per day of oil from Egypt in the second quarter of 2013, as well as about 900 million cubic feet per day of natural gas, spokesman Bill Mintz said.

Overall oil production in Egypt averaged 555,000 barrels per day in 2012, according to the U.S. Energy Information Administration.

Egypt is one of Apache’s most active areas, accounting for 19 percent of its production in the second quarter of 2013, Mintz said.

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Continued violence in Egypt, even as clashes between security forces and protesters have reportedly left more than 1,000 dead over the last week, have not affected Apache.

“Exploration and production activities continue,” Mintz said. “Our operations are generally in remote areas of the western desert. We don’t comment on security matters.”

Other companies, including Halliburton, have faced problems in Egypt because of unrest there. Halliburton reported in July that it had been hampered in moving equipment and personnel because of unrest after a military takeover of the government.

Apache continues to have success in Egypt, despite instability there in recent years. Its operations have not been affected since a change of governments there in 2011, Mintz said.

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Apache this month announced seven new Egypt discoveries that have the potential to significantly boost its production, with multiple test wells showing production above 2,000 barrels per day across a wide geography.

Apache has a stake in 9.7 million acres of land in Egypt. Apache splits some of its interests with other companies, including an Egyptian state-owned oil business, leaving its takeaway production holdings at an average of 88,000 barrels of oil per day and 360 million cubic feet of natural gas per day in the second quarter of 2013.

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