Egypt’s key oil producer Apache used its Q1 results on 5 May to reiterate plans set out in January to hike its gross Egypt oil output by 8-10%/year over the next three years – an implied 190,000 b/d by 2025 (MEES, 7 January).
Having already more than doubled its Egypt rig count to 11 for Q1 from the year-ago five, and ramping up further to a seven-year high 15 by midyear, the Texas-based firm is now seeing production “moving up quite a bit.” (CONTINUED - 686 WORDS)
