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Apache to work more oil areas in North Sea

Nov. 5, 2012 at 8:10 AM   |   Comments

HOUSTON, Nov. 5 (UPI) -- U.S. energy company Apache Corp. announced it was awarded 11 new North Sea licenses by the British government.

Apache, which has headquarters in Houston, said 11 licenses were awarded to it by the British Department of Energy and Climate Change for work in the North Sea. The company said the awards, which cover around 950 square miles, gives it the opportunity to find "to find new resources near its core operations in the United Kingdom sector of the North Sea."

The company said it aims to drill six new wells in the region and examine new seismic survey information.

"This was a very successful outcome that will provide avenues for continued growth near our major producing assets," James House, vice president and managing director of Apache's North Sea region, said in a statement.

Apache didn't provide information related to the reserve potential in the license areas. The British government said some areas could yield an additional 100 million barrels of oil equivalent.

© 2012 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
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