Apache halts UK North Sea oil, gas drilling on ‘burdensome’ regime

Houston-based Apache has suspended drilling at its North Sea oil and gas assets and is cutting jobs, it has said, citing “burdensome” UK tax and regulation. Apache, owned by APA Corp, has been a presence in the North Sea since 2003, when it took over BP’s operatorship of the Forties field area. It had already described the Forties assets –…