Apache begins work on Forties extension
BY NEENA RAI
LONDON -- Apache UK has started to install a satellite extention to the main production platform serving the Forties field in the North Sea, aimed at extending the life of the field, the Financial Times reports.
The newspaper said the project worth $634 million is the latest investment made by the company from Houston, Texas, following its acquisition of the declining Forties field from BP in 2003.
The extension, next to Forties Alpha, will at first boost output and then arrest the decline of oil and gas production. The company was unavailable for immediate comment on the report.
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