Apache Completes Sale of Oil Production Interest in China

Apache Corp.

Apache Corp. said Tuesday that it has completed the previously announced sale of its 24.5-percent interest in China's producing Zhao Dong block to Australia-based ROC Oil Co. Limited for US$260 million.

Proceeds from the sale will be used to fund operations. The effective date of the transaction was July 1, 2006.

Apache is a large oil and gas independent with operations in the United States, Canada, the United Kingdom North Sea, Egypt, Australia, and Argentina.