- Apache (APA +1.7%) says it expects to start production at a new oil field offshore northwest Australia by the end of Q2.
- APA has leased FPSO unit Armada Claire from Bumi Armada to produce light sweet crude from the Balnaves field.
- Balnaves has a five-year field life, with production expected to peak at 30K bbl/day; APA operates the project with a 65% stake.
Apache to start production at new Australian oil field by end of Q2
Feb 19 2014, 10:28 ET