Apache Corporation Makes 'Significant' Oil Discovery in North Sea



Apache Corporation Makes 'Significant' Oil Discovery in North Sea
Apache Corporation makes a 'significant' new oil discovery on Block 9/18a Area-W in the UK sector of the North Sea.

Apache Corporation revealed that it has made a ‘significant’ new oil discovery on Block 9/18a Area-W in the UK sector of the North Sea.

The Garten discovery well targeted a downthrown structural closure and encountered more than 700 feet of net oil pay in stacked, ‘high quality’, Jurassic-aged sandstone reservoirs. Recoverable resource is expected to exceed 10 million barrels of light oil, according to Apache, which is at the high end of predrill estimates.

"The Garten discovery marks our fourth commercial discovery in the Beryl area in the past three years spanning several play types ranging from the Tertiary to the Triassic. Apache's strategy to focus on exploration near operated facilities is set to deliver significant production without the long cycle time of large scale projects,” John J. Christmann IV, Apache's chief executive officer and president, said in a company statement.

The Garten discovery will now be suspended as a future producer and tied back to the Beryl Alpha platform, which is located around 4 miles south.

Apache said it is working closely with the Oil and Gas Authority (OGA) to obtain the regulatory approvals to initiate production, which is anticipated in the first quarter of 2019.

"Garten marks the 2,500th offshore exploration well on the UK Continental Shelf and is an excellent start for exploration drilling in 2018,” Andy Samuel, chief executive at the Oil and Gas Authority, said in an organization statement.

“Apache has created new opportunities by consistently investing in high-quality 3D seismic data to uncover near-field prospectivity around the prolific Beryl Field. Modern data and the application of new technologies are key to stimulating exploration and successfully delivering the full potential of the UKCS,” he added.

Apache has a 100 percent working interest in the Garten block.



WHAT DO YOU THINK?


Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.