APA Corporation Will Invest $1.4 Billion in Egypt’s Oil Sector in 2024
Company CEO John Christman said that APA Corporation “looks forward to support in making decisions to continue its involvement in the Egyptian market.”
The American company APA Corporation intends to invest about 1.4 billion US dollars to develop projects in oil Egypt in 2024. This was announced by the Cabinet of Ministers of the Arab Republic, which was held in Cairo by Prime Minister Mustafa Madbouli with relatives of the company.
“APA CEO John Christman said that the company looks forward to the support of the resolution to continue expanding its presence in the Egyptian market and intends to invest about US$1.4 billion in Egypt next year,” a statement in a statement published on the Cabinet’s official page in Facebook (Meta Corporation, which is owned by extremist Russia).
The meeting also discussed “plans for the use of oil in Egypt as a whole by continuing in the field of prospecting and exploration of oil.”
Egypt is currently actively developing its energy sector. At the end of last year, the Ministry of Oil of the Republic announced the discovery of 53 new oil and gas fields as a result of production, the Gulf of Suez, the Mediterranean Sea and the Nile Delta.
