Apache Takes Reins at Origin's Block Offshore Kenya
Origin completed an agreement with Apache to divest a 50% interest in a production sharing contract for Block L8, located in the Lamu Basin, offshore Republic of Kenya.
Under the terms of the agreement, Apache will obtain operatorship, and reimburse Origin US $13.2 million. Additionally, Apache will meet a component of Origin’s costs of an initial exploration well drilled in Block L8, on the Mbawa structure. The schedule for exploration activity has not yet been determined.
Block L8 spans 1.2 million acres (5,123 square kilometers) with the prospectivity of the block centering on the Mbawa structure, a large but completely faulted anticline. 3D seismic data of the area revealed its potential to hold both oil and gas at inferred Cretaceous and Jurassic reservoir levels, stated Origin. The consortium in Block L8 now includes Apache (50%), Origin Energy (25%) and Pancontinental Oil & Gas (25%).SubseaIQ provides focused, in-depth coverage of offshore field development activities around the world, with daily updates on hundreds of offshore fields and facilities. Click here to sign up for the free weekly email newsletter.
Operates 3 Offshore Rigs
- Ancala Acquires Apache's Two North Sea Gas Pipeline Assets (Nov 20)
- Apache Raises North America Output Forecast, Swings To Profit (May 04)
- Oil Producer Apache Posts Smaller-Than-Expected Loss (Nov 03)
Company: Origin Energy more info
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