President And Chief Executive Officer
CurrentApex is an oil and gas exploration and production business focused on Egypt and financed with equity from Bluewater and the International Finance Corporation (IFC) and an RBL facility from Mauritius Commercial Bank. Apex is currently focused on acquisition of producing properties in MENA and conducting exploration and development operations in Egypt. Apex signed two Production Sharing Contracts with the Arab Republic of Egypt on August 29, 2017 for two onshore exploration concessions in the Western Desert. In 2019-2020, Apex acquired 1,500 square kilometers of 3D seismic data that was processed and interpreted. Exploration drilling commenced in December 2020 with three oil discoveries. Development has progressed thru a JV-OPCO with EGPC named Farah Petroleum Company approved in April 2021. First production commenced in August 2021. During the 1H-2023, Apex acquired six Western Desert concession interests from Eni's Egypt subsidiary IEOC. Four of the concessions are producing and now operated by Apex's JV-OPCO PetroFarah, while two concessions remain operated by Eni and their JV-OPCO Agiba. In May 2023 the East Siwa exploration concession was signed into Law where Apex and IEOC each hold 50% interest with Apex operating.Total working interest production is 11,500 boepd.