Report summaryThe Khalda Area covers the Khalda, Khalda Offset, Umbarka and Qasr Development Leases in the Western Desert, operated by a joint venture of Apache and Sinopec. The majority of the area is located in the Shushan Basin. The Bernice and Ptah fields discovered in 2014 are the largest oil discoveries by Apache for 13 years and have estimated 2P reserves of 50 million barrels. These discoveries are the result of Apache's recent strategy of targeting deeper Early Cretaceous and Jurassic horizons across its Western Desert acreage. Whilst Apache has developed its liquid production capabilities, gas production from the Khalda Area has been curtailed by facility and infrastructure constraints. Apache's notable exploration success has meant it has built up significant gas reserves since 2000. Plans to construct a modular processing train, Salam-5, have not materialised thus far and may be contingent on Apache securing a higher gas price.
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