Apache celebrates 40 years of production at North Sea’s Forties field

HOUSTON -- Apache Corp. announced a significant milestone at its Forties field in celebration of 40 years since oil was first produced from Forties Alpha and transported, via the Forties Pipeline System, to the onshore terminal at Cruden Bay, UK.

Forties field, which Apache has successfully rehabilitated through its Apache North Sea subsidiary, remains one of the key producers in the UK sector of the North Sea.

Situated 177 km east of Aberdeen, Scotland, Forties has seen activity since 1964 when the area was initially licensed for exploration. In October 1970, commercial oil was confirmed in the field with the discovery of an estimated 1.8 Bbbl of oil, establishing the UK North Sea as a major source of energy and revenue. It remains the single largest oil-producing asset within the UK Continental Shelf, surpassing 2.4 Bbbl to date, and is one of the top-producing fields in 2015.

Prior to Apache's acquisition, the field was expected to cease production by 2013 with decommissioning operations commencing thereafter.

Production had declined to 40,000 bopd—less than a twelfth of its peak production—by the time Apache assumed operations in 2003. After addressing key issues impacting the five platforms of the mature asset base, including recommencing drilling operations, Apache revived production to more than 60,000 bopd by year-end 2004.

While Forties was estimated to contain 144 MMboe of remaining reserves when Apache acquired it in 2003, the company has since recovered more than 230 MMboe and added critical infrastructure, including tying back new, operated, satellite-field discoveries, to extend the field's life expectancy by more than 20 years.

Today—12 years after Apache assumed control—the field continues to produce in excess of 52,000 bopd with a robust inventory of opportunities to pursue going forward.