Apex International awards contracts to start oil and gas exploration in Egypt

ApexHouston-based Apex International Energy, North Africa-focused oil and gas exploration company, has awarded a contract to acquire 1,000 sq km of 3D seismic data in the Southeast Meleiha Concession to BGP International Egypt, LLC

Additionally, recent tender awards have been made to Weir, Vallourec Oil and Gas France, Soconord SA and Tenaris Global Services SA for the purchase of wellheads, well casing and tubing to support the upcoming drilling programme.

This work is part of the bid commitment Apex made to invest about US$27.4mn during the first exploration phase to perform detailed geological studies, acquire and process 3D seismic and drill six exploratory wells.

The two concession agreements consist of 1.7mn acres encompassing the West Badr el Din (4,180 sq km) and South East Meleiha (2,535 sq km) concessions, located in the prolific Abu Gharadig Basin in Egypt's Western Desert. As previously announced, Apex was awarded the two blocks as part of the Egyptian General Petroleum Corporation (EGPC) 2016 bid round with the Production Sharing Contracts signed on 29 August 2017.

These contracts are in line with the company’s strategy to build an upstream company of scale in Egypt, said Roger Plank, founder and CEO of Apex international.

“At Southeast Meleiha Concession we will commence 3D seismic acquisition operations in the Q4 2018. We expect to begin drilling the first of six exploration wells before year end,” Plank added.

The oil and gas potential in North Africa, particularly in Egypt, is very attractive to explore more oilfields. The company is looking forward to working together to tap its considerable hydrocarbon potential, said Plank.

Recently, Egypt is advancing towards to reshaping it oil and gas scenarios. This follows with the European Bank for Reconstruction and Development’s (EBRD) US$200mn loan to modernise the North African country’s oil refinery and SDX’s significant natural gas discovery in Egypt.

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