Apache discovers oil in Northwestern Australia
US energy firm Apache on Monday announced an oil discovery off northwestern Australia which it said could potentially represent a new oil province for the country.
The find at the Phoenix South-1 well is the first for Apache Energy in the Canning Basin.
“Although evaluation is at an early stage, Phoenix South-1 is an exciting result,” said Apache’s executive vice-president and chief operating officer for international operations, Thomas E. Voytovich.
“The oil and reservoir quality we have seen point to a commercial discovery. If these results are borne out by further appraisal drilling, Phoenix South may represent a new oil province for Australia.”
The company said in a statement it had confirmed at least four discrete oil columns.
“This is the most significant new oil play in the North West Shelf since the Enfield discovery opened up the Exmouth Basin almost 20 years ago,” Carnarvon managing director Adrian Cook said.
Western Australia is rich in resources, with mining and petroleum the largest contributors to the state’s economy.
Source: economictimes
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