INVESTMENT WATCH- Apache plans to boost its investment in Egypt to an annual USD 1 bn, CEO John Christmann is reported to have said last week at a meeting with Oil Minister Tarek El Molla, according to a ministry statement carried by Al Mal. Apache is already eyeing new opportunities in Egypt under its current five-year strategy, the paper quotes Christmann as saying. Apache and the EGPC had signed in July a USD 9 mn exploration agreement for blocks in the Western Desert and the company had said it plans to begin drilling this year.

Also last week, El Molla sat down with our friend Tom Maher, president and COO at Apex International Energy, and a delegation from partners Blue Water Energy to discuss their plans to begin drilling at Apex’s Western Desert concessions. Apex had previously said it was planning to begin exploration at the West Badr El Din and South East Meleiha concessions in in 4Q2018. The Oil Ministry is stepping up the pace at which it brings out tenders for new exploration blocks as part of its drive to position Egypt as the premier regional energy hub.