Apache announces another deepwater discovery in Western Mediterranean

27 November 2002

Apache Corporationon 27 November announced its fourth consecutive deepwater discovery on its 2.3-million acre West Mediterranean Concession offshore Egypt. The El King-1X found not only significant gas reserves in both the primary objective Miocene-age formation and the secondary Pliocene objective but also the first Miocene deepwater oil in the Nile Delta. The El King-1X is the company's 10th discovery in Egypt and 15th worldwide this year. In July it announced a new fault-block discovery on the Khalda concession in the Tut 52 well, and two other fresh oil and gas discoveries in the Western Desert (MEED 26:7:02). In September it announced that it was well on its way to establishing reserves of at least 3 trillion cubic feet of gas in the Western Mediterranean concession (MEED 20:9:02; 19:7:02).

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