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Apache makes major oil find
A MAJOR find of up to 300m barrels of oil off the coast of Australia was announced yesterday by US based oil company Apache Corporation, representing potentially one of the biggest oil discoveries there in around 30 years.
The positive drilling results announced came from the Phoenix South-1 well in Western Australia’s offshore Canning Basin, with Apache stating that the oil and reservoir quality found so far suggested a “commercial discovery”.
Thomas Voytovich, international chief operating officer, said: “If these results are borne out by further appraisal drilling, [it] may represent a new oil province for Australia.”