Apache Corporation plans to invest around USD 1.4 billion in Egypt in 2024, its CEO and President John Christmann said Sunday.

He made the remarks during a meeting with Egyptian Prime Minister Dr. Mustafa Madbouli to discuss Apache's future plans and investment, the premiership said in a statement.

Christmann said Apache, which has strong friendship and business relationship with Egypt, upgraded its work mechanisms in Egypt that contributed to increasing oil production by 10 percent to over 150,000 barrels per day.

Apache, he said, was committed to its investments in Egypt and was looking foward to sustainable partnership with Cairo.

Madbouli said Egypt looked forward for more investment by Apache as well as expanding its oil and gas exploration operations.

He commended the partnership with Apache, whose relationship with Egypt over two-decade old.

Source: Kuwait News Agency