ATP Expands North Sea Acreage
ATP Oil & Gas Corporation has expanded its North Sea operations into the Dutch Sector. ATP has acquired a 50% equity interest in the L-06d block located in the Dutch sector of the North Sea. The L-06d block, located in 115 feet of water, contains proved reserves from a gas discovery in 1990. The property, located near existing infrastructure, is expected to have first production in 2004. ATP is the operator of the property.
ATP acquired the 50% equity interest in the L-06d block from Nederlandse Aardolie Maatschappij B.V. (NAM). The remaining 50% interest is owned by Energie Beheer Nederland B.V. (EBN), who participates on behalf of the Dutch State.
Commenting on the announcement, T. Paul Bulmahn, Chairman and President of ATP, said: "We are expanding our uniquely focused offshore development strategy in the North Sea to the Dutch Sector, which presents an extension of substantial opportunities for ATP. We look forward to developing with EBN these reserves and building upon the positive relationship we are pleased to have established with NAM."