Apache has assumed operations of the Beryl, Nevis, Ness, Nevis South, Skene and Buckland fields, the Beryl/Brae gas pipeline and the SAGE gas plant.
The transaction also includes non-operated interests in the Maclure, Scott and Telford fields and the Benbecula exploration acreage.
Apache chairman and CEO G. Steven Farris said the company is pleased to work with ExxonMobil in order to acquire the best North Sea assets that Apache has evaluated in UK since 2003.
"These fields have significant remaining life, high production efficiency, quality reservoirs and a portfolio of low-risk exploitation projects; we also believe the complex structural setting holds reserve upside" added Farris.
Apache’s assumption of operations followed a comprehensive review of the transaction by several UK and Scottish government agencies.
