Page 8 - 3rd draft-Apache Egypt Newsletter

Springboard Graduation

Ceremony

October 5th, 2016, marked a very special day for Apache. It is the day

Apache honored 70 graduates from 35 Springboard schools in Fayoum
who are currently enrolled in high schools to continue their education.

The celebration commemorated the road that Apache’s Springboard

schools project team, students and teachers have traveled together.
The ceremony was attended by Mr. Adel Abd El Moneim, the

Undersecretary of the Ministry of Education- Fayoum Governorate,

officials from the Ministry of Education, our partners at the National

Council for Childhood and Motherhood, and Mr. David Chi, Vice

president and General Manager of Apache Egypt along with other
guests from Apache, Sinopec, Khalda, and Qarun. Mr. Chi presented

the awards and certificates to the students and their teachers. Mr. Chi

also handed awards to Fayoum’s educational administration team

appreciating their efforts towards the schools and the students.

“Apache know that you have big dreams and aspirations, we saw that when we honored some of the students from

Minya earlier this year, we were surprised how ambitious they are and of course you are not different, which gives me

the opportunity to tell you that Apache will try to help you achieve your dreams even after your graduation from the

Springboard schools as long as you chase those dreams,” mentioned Mr. Chi.

Upcoming events

Visit Apache’s Booth at
one of the biggest

petroleum events

14-16 February 2016
Cairo International Convention & Exhibition
Centre

The final word

From apache Egypt Vice President and general manager

Our vision for 2017 can be summed up in 3 strategies: to respond to market

changes through maintaining operational flexibility, to actively manage the
portfolio through further streamlining, to focus on capital budgeting that is

based on conservative price assumptions. We will be able to accomplish these

strategies through several ways. In North America onshore projects, we will

work on growing the production. We will strive hard to increase development

activity in Midland and Delaware core. We will also continue delineation and

ramp production in Alpine High with 4-6 rigs. Along with these activities, we will David Chi
Apache Egypt Vice
focus on cost optimization and the funding of SCOOP, Montney and Duvernay. President and General

Regarding the international & offshore projects, we will aim to invest more to Manager 21 years of

sustain the production and the free cash flow in Egypt and the North Sea. We service
will continue lowering the risks and developing high impact exploration in Nasser Aly

Suriname area. Our strategic goals for Apache Egypt are to sustain and

maximize production and cash flow in a concession-based regime while

operating in a safe and environmentally prudent way and to have an impact on

our share price by increasing investor’s confidence in Egypt’s asset value.