Apache's North Sea Forties Field Off Line Due to Temporary Shut-In of BP's Kinneil Processing Plant

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Apache's North Sea Forties Field Off Line Due to Temporary Shut-In of BP's Kinneil Processing Plant

June 21, 2005 at 12:00 AM EDT
Apache's North Sea Forties Field Off Line Due to Temporary Shut-In of BP's Kinneil Processing Plant HOUSTON, June 21 /PRNewswire-FirstCall/ -- Apache Corporation (NYSE, Nasdaq: APA) said today that a technical problem at BP's Kinneil processing plant in Scotland temporarily shut down the Forties Pipeline yesterday at approximately 3 p.m., London time. The shutdown of the United Kingdom's largest pipeline, which flows approximately 600,000 barrels per day of oil equivalent, caused a number of North Sea fields to shut in, including Apache's Forties Field. Apache's production from Forties represents in excess of 10 percent of the pipeline's throughput.

BP said it expects to bring the system back on line later today. However, further delays could be important to Apache, as Forties Field accounts for approximately 14 percent of Apache's total production on a barrel-equivalent basis.

Apache Corporation is a large oil and gas independent with core operations in the United States, Canada, the United Kingdom North Sea, Egypt and Australia.

This release contains certain "forward-looking statements" as defined by the Private Securities Litigation Reform Act of 1995, including, without limitation, expectations and beliefs, regarding the Kinneil plant. Among the important factors that could cause actual results to differ materially from those indicated by such forward-looking statements is the ability of BP to correct the technical problems with the plant and to resume receipt of Forties Field production. There is no assurance that Apache's expectations will be realized, and actual timing of the resumption of deliveries may differ materially from those expressed in the forward-looking statements.



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