Egypt oil production needs 21st century revamp: executive - PLATTS

Cairo (Platts) 16 Feb 2017 842 am EST/1342 GMT

Nick Coleman, Edited by Maurice Geller

Egypt needs to rethink the joint venture model that has governed its onshore oil industry for the past half century as part of wider reforms to the economy, according to James House, senior region vice president for the country's largest international oil producer, Apache.

At a conference in Cairo this week, House told journalists Apache would increase its capital spending in Egypt this year from last year's level, which was around $300 million, as it takes on new concessions and steps up seismic acquisition.