ATP Receives Approval for Helvellyn Field

ATP Oil & Gas Corporation has received approval from the Secretary of State for Trade and Industry for the development of the Helvellyn Field (Block 47/10) in the Southern Gas Basin of the UKCS. In conjunction with this approval, ATP Oil and Gas (UK) Ltd was confirmed as the production operator.

The Field will be developed via a subsea well tied back by a 10 mile pipeline to the BP operated Amethyst Field and is expected to commence production in 2003.

Commenting on the announcement T. Paul Bulmahn, Chairman and President of ATP, said: "I am delighted by the success that ATP has had in bringing its uniquely focused offshore development strategy to another area of substantial opportunity."

Adrian Turner, Managing Director of ATP Oil & Gas (UK) Ltd, said: "Coming in just the second year of our activity in the UK this marks a very significant milestone in our progress to build a substantial development and production business here. We are delighted with the support and encouragement hat the DTI have provided to us in reaching this milestone."