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Apache reports oil find off WA coast

Apache reports oil find off WA coast

Photo by Bloomberg

19th August 2014

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

  

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PERTH (miningweekly.com) – International oil major Apache has announced a major oil discovery at its Phoenix South-1 well, off the coast of Western Australia.

The US-based miner said that wireline and formation pressure tools had confirmed at least four discrete oil columns ranging in thickness of between 26 m to 46 m, within an overall sand-rich section between 4 160 m and 4 500 m.

“Although evaluation is at an early stage, Phoenix South-1 is an exciting result. The oil and reservoir quality we have seen point to a commercial discovery,” said Apache executive VP and COO Thomas Voytovich.

“If these results are borne out by further appraisal drilling, Phoenix South may represent a new oil province for Australia,” he added.

Apache owns a 40% interest in the permit that holds the Phoenix South-1 well, and acts as operator in a joint venture with Carnarvon Petroleum, Finder Exploration and JX Nippon.

Edited by Creamer Media Reporter

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