Bluewater to sell Apex
Bluewater has signed an agreement to sell Apex International Energy to United Energy (Mena), a subsidiary of the Hong Kong-based United Energy Group. The transaction is subject to governmental approval.
Since Bluewater’s first investment in 2018, Apex has expanded its oil and gas activities in Egypt’s Western Desert, acquiring new concessions and increasing production. In 2024, its working interest production averaged over 11,000 barrels of oil equivalent per day. The company has delivered more than 10 million barrels to the Egyptian market since 2021.
Apex will continue its operations under new ownership, focusing on further growth in the region. Apex founder Roger Plank is pleased that “Apex’s oil production growth in Egypt from zero to a top ten producer in less than two years is remarkable and has reaped rewards for Egypt and our shareholders.” (js)