"Thanks to all involved in organising this event, it was very informative and enjoyable"
Chris Tayler, BG Group
Aberdeen Young Professionals were delighted to announce their second "Meet the Mentors" event sponsored and supported by Apache North Sea. The event was held on the 11th November 2015.
It had originally been predicted in 1975, that production from Forties would have stopped by the early 90s. As the field and platforms aged, production continued to decline with oil production around 75,000 barrels per day in 1997 and falling to 66,000 barrels per day in 1999. It had been expected to be shut down for good in 2000.
However in 2003, when production had further declined to around 45,000 barrels per day, BP sold its 97% share of the iconic field to Apache for $683million. This was a controversial move as the Forties field was seen as a status symbol for the UK. It was described by the media at the time as akin to ‘selling off the family silver.
By 2013, Apache had invested £2.8 Billion ($4.3 billion) in the Forties field since its acquisition. It had produced 190 million barrels of oil equivalent, and its average daily production stood at 60,000 barrels per day.
"Thanks very much for holding last nights event, I found it of great benefit "
"Congrats again for organising such a great event last night"
Efraim Doczi, MOL Group
"It was a great and informative evening tonight, many thanks!"
"Thank you for inviting me to your event which was excellent. I know its hard work to deliver such events, you've done a great job! I really liked the way the presentation was delivered and learnt a lot about Apache and its Forties Field. Thor is a talented MC too!"
Victoria Aston, Optima