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Company History

Founded in 2016, with its initial investment in Egypt in 2017 and first oil discovery in 2021, Apex has grown rapidly through exploration and development success and a disciplined approach to acquisitions to become Egypt’s 8th largest oil producer as of the first quarter of 2023. Led by an accomplished management team with vast experience building upstream oil and gas businesses of scale in Egypt and recognized by Egyptian authorities for its rapid production growth, Apex aims to become a leading independent explorer and producer in the Western Desert by further consolidating its acreage position and exploiting organic and inorganic growth opportunities. Egypt remains one of the leading oil and gas provinces in the Middle East / North Africa region, and the upstream industry enjoys broad governmental support.

2016
2017
2018
2019
2020
2021
2021
2021
2021
2022
2022
2022
2022
2023
2023
2023
2023

2016

Apex founded in Houston, Texas

2017

Signed two exploration concessions in Egypt’s Western Desert, Southeast Meleiha (SEM) and West Badr el Din (WBED)
Established Cairo office

2018

Acquired 1480 km2 of 3D seismic

2019

Drilled 3 exploration wells in WBED concession

2020

Drilled first exploration well in SEM concession, SEMZ-1X, an oil discovery

2021

January: Second SEM exploration well, SEMZ-11X, discovered net oil pay in Middle Bahariya, tested at c. 2,200 bopd

2021

February: Commercial discovery declared

2021

March: Awarded Fajr development lease (additional development leases followed)

2021

August: Commenced production from Fajr field, record time from discovery to production for new Egypt producing company

2022

January: Awarded East Siwa exploration concession in 50:50 partnership with Italian major ENI s.p.A.

2022

May: Signed purchase agreement with ENI to acquire interests in 6 concessions in the Western Desert

2022

September: Production from SEM reaches c. 8,000 bopd

2022

December: Signed RBL facility with Mauritius Commercial Bank for funding of ENI acquisition

2023

January-June: Closed acquisition of 6 concessions from ENI

2023

January: Working interest production reaches c. 11,000 bopd as Apex becomes 8th ranked producer in Egypt

2023

August: Oil discovered in Qattara depression with SEMD-3X exploration well; 5th SEM development lease awarded

2023

September: Gas production commences from ENI-operated East Obaiyed concession