Business Outlook 2019

BUSINESS OUTLOOK 2019

Exploration Highlights of 2018

The 10 million boe discovery in the Beryl area of the northern North Sea was a result of Apache’s near-field exploration strategy and the benefits of investing in high-quality data and modern technology to maximise recovery from mature areas. The field was progressed from discovery to first production within just eight months.

Garten Discovery announced

March 2018

by Apache in March 2018

Glendronach When announced in September, this was the largest conventional discovery on the UKCS since Culzean in 2008

With initial reserve estimates in the region of 175 million boe, this west of Shetland discovery is in close proximity to infrastructure already operated by Total E&P. Following further appraisal, it is possible that this discovery could be developed relatively quickly, making use of the existing infrastructure put in place to service the fields within the Greater Laggan and Tormore Area.

September 2018

Agar-Plantain The private-equity backed operator Azinor Catalyst, along with partner companies, announced success at the prospect in November 2018

This discovery in the northern North Sea is a further example of the benefit modern seismic techniques have in helping to de-risk opportunities. The discovery, which could hold up to 50 million boe, will be examined further to determine a potential development concept. However, it is possible that this could be developed quickly due to its proximity to infrastructure within the area.

November 2018

The HPHT Glengorm well in the central North Sea has overtaken the Glendronach discovery as the largest conventional find for a decade. With initial reserve estimates of up to 250 million boe, the field is close to infrastructure operated by one of the partner companies (Total E&P) and after further appraisal could be potentially progressed relatively quickly.

Glengorm Discovered by CNOOC and partner companies in 2018, and announced in early 2019

December 2018

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