Arab Finance: Minister of Petroleum and Mineral Resources Karim Badawi has reviewed Apache Corporation's development plans across its concession areas in Egypt as part of the ministry's strategy to attract more global investment into the energy sector, according to a statement.

In an extensive meeting with John Christmann, CEO and President at Apache Corporation, Badawi praised the group’s operational performance and its long-standing presence in Egypt, describing it as a strategic partner in the country's petroleum industry.

He asserted the need to accelerate implementation of the company's targeted drilling program for the current year, noting that joint technical teams are evaluating the ambitious five-year plan to boost production.

Touching upon Apache’s recent exploration successes in the Western Desert, the official addressed the new gas discovery at the deep exploratory Wanda well, achieved through Khalda Petroleum Company, which recorded promising initial production rates of 40 million standard cubic feet per day (MMscfd).

For his part, Christmann lauded the ministry's progress in settling outstanding dues owed to international partners, affirming that this move boosted investor confidence and helped create a stable and attractive investment climate that supports exploration, production, and field development.

With decades of exploration, development, and operations experience, Apache Corporation is APA Corporation's subsidiary in Egypt and one of the largest acreage holders in the company.