Apache to Develop Macedon Field in Australia (APA, BHP)

Apache Corporation APA APA said today that it will proceed with development of the Macedon gas field in the Exmouth Basin in Western Australia. The project will commercialize natural gas from offshore production license WA-42-L. First production is expected during 2013. Apache has a 28.57-percent interest and its share of the estimated $1.5 billion cost is approximately $430 million. BHP Billiton BHP owns the remaining interest and will operate the project.