Apex International Energy said Dec. 2 it was awarded blocks 8 and 9 in the Abu Gharadig Basin in Egypt's Western Desert by the Egyptian General Petroleum Co. (EGPC) from its 2016 bid round.
Block 8 West Badr el Din and Block 9 South East Meleiha cover 6,714 square kilometers (2,592 square miles or 1.7 million acres) in total.
Apex will invest $27.4 million during the first exploration phase to acquire and process 3-D seismic and drill six exploration wells.
Thomas M. Maher, president and COO, said the company will work with EGPC and Egypt’s Ministry of Petroleum to finalize the concession agreements.
Roger B. Plank, Apex International’s founder and CEO, said the company wants to build an oil and gas business of scale in Egypt.
Apex International Energy Management is based in Houston.
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