Apache opens office in Aberdeen

Company News - February 14, 2003

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US-based oil firm Apache has confirmed it will be locating its operations office for the Forties field in Aberdeen. This emerged following a meeting between Energy Minister Brian Wilson and SteveFarris, President and Chief Executive Officer of Apache.

The decision was welcomed by Mr Wilson as "an excellent result for Aberdeen which will now become the base for one of the most vibrant new entrants to the North Sea for many years."

Mr Wilson added: "The purchase of Forties by Apache is a win-win for the North Sea.Our priority is to ensure that licensed assets are in the hands of those companies best placed to exploit them. Asset changes such as this one are welcome because they ensure that both the seller and the buyer are able to focus on the assets best suitedto them. I am extremely impressed by Apache's approach and expect them to make a positive impact here. They have waited patiently for the right opportunity to arise in the North Sea and I would now expect them tolook for others to complement it."

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