Apache says finds potential new oil province off Australia
Published on Aug 18, 2014 10:12 AM
MELBOURNE (Reuters) - Apache Corp said on Monday it had made an oil discovery off the coast of Western Australia, pointing to possibly as much as 300 million barrels of oil in place in what could be a commercially viable new oil province.
It said drilling at the Phoenix South-1 well in the Canning Basin had found at least four separate oil columns, with light oil samples taken.
"Although evaluation is at an early stage, Phoenix South-1 is an exciting result," Apache's international chief operating officer, Thomas Voytovich, said in a statement.
"If these results are borne out by further appraisal drilling, Phoenix South may represent a new oil province for Australia," he said.
To continue reading, log in if you are a subscriber
Enjoy 2 weeks of unlimited digital access to The Straits Times. Get your free access now!