UK Corporate Strategy | Apache exiting the North Sea – the tip of the iceberg?
December 9, 2024
Apache is planning to prematurely cease production at its two operated hubs, Beryl and Forties, and exit the UK North Sea by 2030. This is in direct response to the UK’s investment-stifling fiscal regime, following the introduction of, and revisions to, the Energy Profits Levy (EPL). This report considers the financial impact on the UKCS and the UK exchequer as a result of Apache’s decision.