Apache plans to boost Egyptian oil, gas spending in 2013

02/20/2012 | Fox Business

Apache has agreed to boost its Egyptian oil and natural gas investments by $1 billion in 2013, said Abdullah Ghorab, Egypt's minister of oil. Over the past 10 years, Apache has directed more than $1 billion into oil and gas drilling projects in Egypt, and the country's government has earned about $10 million per day in revenues from the company's ventures, said Steven Farris, Apache's chairman and CEO.

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