PERTH (Reuters) – The American energy company Apache has a large oil field found for the Australian west coast. The field is estimated to contain 300 million barrels of oil, making it possibly the greatest discovery in the region in decades. That made the company announced Monday.
Australia can use the new backup well as existing fields are emptied rapidly. Oil Concern BP recently calculated that oil production in the country has fallen to 416,000 barrels per day. Previous year by 17 percent That’s the lowest level since 1972, the last years have made large natural gas finds.
Apache, which has a stake of 40 percent in the extraction area, wants to go further next year to evaluate the field. The other stakeholders are Carnarvon Petroleum, JX Nippon and Finder Exploration, each with a 20 percent stake.
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