Apache makes two oil discoveries in the Faghur Basin of Egypt

By Phaedra Friend Troy

US independent Apache Corporation (NYSE:APA) has made two new oil discoveries in the Faghur Basin play of Egypt's Western Desert.

By using 3D seismic surveys over the southwestern portion of the Khalda Offset Concession and the southern part of the West Kalabsha Concession, Apache has made two new oil discoveries in Egypt.

The first discovery, the Faghur Deep-1X well has transected both oil and natural gas. A test of the Jurassic Safa sand on the Faghur Deep-1X well flowed at a rate of 6,671 barrels of oil and 2.76 million cubic feet of natural gas a day.

Located in the Neith South development lease, the Neilos-1X discovery well flowed at a rate of 4,179 barrels of oil and 4.2 million cubic feet of natural gas a day from the Jurassic Safa formation. The Neilos-1X well also transected two Alam El Bueib (AEB) Cretaceous pay sands that have not yet been tested.

"The Faghur Basin continues to be a successful focus area for Apache, with prolific oil and gas production from the AEB, Safa, and Paleozoic reservoirs that demonstrates the multiple-pay potential of this area of the Western Desert," said Tom Voytovich, vice president of Apache's Egypt Region.

In 2011, Apache has drilled and/or completed 11 exploration wells in the Faghur Basin of Egypt, resulting in nine new field discoveries. The company is currently drilling another two exploration wells, and an additional seven exploration wells are expected to reach total depth by the close of 2011.

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