MELBOURNE Aug 18 Apache Corp said on
Monday it had made an oil discovery off the coast of Western
Australia, pointing to possibly as much as 300 million barrels
of oil in place in what could be a commercially viable new oil
It said drilling at the Phoenix South-1 well in the Canning
Basin had found at least four separate oil columns, with light
oil samples taken.
"Although evaluation is at an early stage, Phoenix South-1
is an exciting result," Apache's international chief operating
officer, Thomas Voytovich, said in a statement.
"If these results are borne out by further appraisal
drilling, Phoenix South may represent a new oil province for
Australia," he said.
U.S.-based Apache Corp, which is currently considering
selling its Australian assets, said it would continue to
evaluate the area with its partners Carnarvon Petroleum Ltd
, Finder Exploration and JX Nippon.
(Reporting by Sonali Paul; Editing by Joseph Radford)