SUBSEA UK LUNCH AND LEARN

TUESDAY 5TH DECEMBER 2017 MARK RICHARDSON PROJECTS GROUP MANAGER

Certain statements in this presentation may contain "forward-looking statements" within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995 including, without limitation, expectations, beliefs, plans and objectives regarding production and exploration activities. Any matters that are not historical facts are forward-looking and, accordingly, involve estimates, assumptions, risks and uncertainties, including, without limitation, risks, uncertainties and other factors discussed in our most recently filed Annual Report on Form 10-K, recent Quarterly Reports on Form 10-Q, recent Current Reports on Form 8-K available on our website, http://www.apachecorp.com/, and in our other public filings and press releases. These forward-looking statements are based on Apache Corporation’s (Apache) current expectations, estimates and projections about the company, its industry, its management’s beliefs and certain assumptions made by management. No assurance can be given that such expectations, estimates or projections will prove to have been correct. Whenever possible, these “forward-looking statements” are identified by words such as “expects,” “believes,” “anticipates” and similar phrases.

Because such statements involve risks and uncertainties, Apache’s actual results and performance may differ materially from the results expressed or implied by such forward-looking statements. Given these risks and uncertainties, you are cautioned not to place undue reliance on such forward-looking statements. Unless legally required, we assume no duty to update these statements as of any future date. However, you should review carefully reports and documents that Apache files periodically with the Securities and Exchange Commission.

Cautionary Note to Investors: The United States Securities and Exchange Commission ("SEC") permits oil and gas companies, in their filings with the SEC, to disclose only proved, probable, and possible reserves that meet the SEC's definitions for such terms. Apache uses certain terms in this presentation, such as “BO resource,” “BO Potential” and other similar terms that the SEC guidelines strictly prohibit Apache from including in filings with the SEC. “BO Resource,” “BO Potential” and other such terms do not take into account the certainty of resource recovery, which is contingent on exploration success, technical improvements in drilling access, commerciality and other factors, and are therefore not indicative of expected future resource recovery and should not be relied upon. Investors are urged to consider carefully the disclosure in Apache’s Annual Report on Form 10-K for the fiscal year ended December 31, 2016, and amendments thereto, available from Apache at www.apachecorp.com or by writing Apache at: 2000 Post Oak Blvd., Suite 100, Houston, Texas 77056 (Attn: Corporate Secretary). You can also obtain this report from the SEC by calling 1-800-SEC-0330 or from the SEC's website at www.sec.gov

FORWARD LOOKING STATEMENTS

Apache North Sea

The Projects Group

Recent Projects

Benchmarking

The Portfolio

The Plan

Contracting with Apache

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AGENDA

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WHO ARE APACHE?

THE APACHE WAY

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APACHE NORTH SEA REGION

Our Vision

To be the premier exploration and production company in the North Sea

Our Mission

Grow value and deliver maximum economic recovery from our assets in an innovative, safe, environmentally responsible and profitable manner for the benefit of our shareholders

Our Strategy

Deliver top-tier returns by maximizing economic recovery through a balanced approach to our operations focused on continuous improvement in all facets of our business

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HSSE BENCHMARK PERFORMANCE

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Industry Leading Operational Performance

PRODUCTION EFFICIENCY

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Industry Leading Operational Performance

OPERATING COSTS

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01234

OGA significant offshore discoveries listing

2012-2016

No

. of

dis

cove

ries

EXPLORATION SUCCESS

THE PROJECTS GROUP

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PROJECTS GROUP MISSION AND CULTURE

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Mission

The mission of the Projects Group is to provide ApacheNorth Sea with safe world class project delivery in order tomaximize the return on investment for the Corporation.

Pace, Innovation and Excellence

Unity of effort, focus and momentum. Empoweringindividuals to use their own discretion and initiative withinthe implementation process and delivery through MissionCommand Project Management

MISSION COMMAND PROJECT MANAGEMENT

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Mission Command Project Management is a projectmanagement philosophy, with centralised intent anddecentralised execution, that is particularly suitable for fast-track, complex and dynamic projects. It demands anapproach that promotes freedom of action and initiativewithin the bounds of competence. Mission CommandProject Management focuses on project benefits, as itstresses the importance of understanding what effect is tobe achieved, rather than specifying the ways by which itshould be achieved.

MISSION COMMAND PRINCIPLES

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The principles of Mission Command Project Management:

Leadership

Sense of urgency

Competence and capability

Devolved decision making

Responsibility, accountability, authority and autonomy

Collaboration

Respect, integrity and trust

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identity

process and control

quick reference

stage summaries

How to...

CP1 CP2 CP3 CP4 CP5 CP6

PROJECTS DELIVERY MANUAL

100 - General philosophy and approach 200 - Broader Project Management Topics 300 - Specific methods and tools

PROJECT MANAGEMENT PROCESSES

Check Point Process

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High

Low

Low HighEffort

Reward/Risk Cost/Time/Resource

FOCUS AND EFFECTIVENESS

Lean Teams

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Network-Centric Eco-System

Cost

Compliance

Competence

Traditional Selection

CostCompetence

Compliance

Culture

Collaborative Selection

SUPPLY CHAIN MANAGEMENT

Contractor Collaboration

Old Hierarchical Structures

FUNCTIONAL SPECIFICATION

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CONTRACTING METHODOLOGY

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Key Point Indicators(KPI’s)

Value Creation

Trust

Zero

Penalties

Lump Sum

Confrontational

Zero

Strategic alignment

Target Cost

Collaborative Working

Co-creating

RelativeAbsolute

SimplisticSignificant number of KPIs

Cost Plus

Co-operative

Compliant

COMPLICATED TO COMPLEX

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STOCKING FILLERS

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RECENT PROJECTS

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FNT OIL TIE-BACK TO BERYL BRAVO

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Single Development Well Tie-in

FNT additional Slot Manifold, Subsea

Controls and Jumpers

Control System HDU, TUTU, MCS and

Delta V

3.8km 8” Flexible Pipeline Rock

Dumped and Matted

4.3km 8” Flexible Pipeline Rock

Dumped and Matted

ESDV, Hook-up to Subsea Manifold

4.5km Electro-Hydraulic

Umbilical Rock Dumped and Matted

AVIAT FUEL GAS TIE-BACK TO FA

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24km Electro-Hydraulic

Umbilical Trenched, Buried and Matted

Subsea Isolation Valves Manifold and

Controls

Metering and Compression, Slugcatcher

Control System HDU, TUTU, MCS and

Delta V

Risers and Umbilical Under-deck

Structures and ESDV

6” Flexible Riser, Bellmouth to

Existing Risers

Meg Storage, Injection, Pumps and

Compressors

23km 8” Rigid Pipeline Trenched, Buried and Matted

Single Development Well Tie-in

Aviat 4 Slot Manifold, Subsea

Controls and Jumpers

Gas Heater & Compressor KO

Drums

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Subsea Isolation Valves Manifold and

Controls

Control System HDU, TUTU, MCS and

Delta V

Bacchus Riser Caisson Under-deck Structures and ESDV

6.7km Bundle2 x 6” Production2 x 4” WI/Heating

4” Gas Lift3” Scale Squeeze

HydraulicsElectricsChemical

4 Slot Manifold, Subsea Controls and

Jumpers

BACCHUS OIL TIE-BACK TO FORTIES ALPHA

Metering and Tie-into Production,

Water Injection and Gas Lift

FORTIES ALPHA SATELLITE PLATFORM

18 Gas Lifted Wells

Gas Dehydration & Compression

Local Equipment Room

Lifeboat

Crane

Separation

Water Polishing & Sand Removal

Export Pumps

Power Generation, Switchboards & Transformers

Total weight 18,460 tonnes

Topsides 44m x 40m x 17m

Bridge 92m x 6m x 5m

Jacket height 129m

Piles 12 x 2.4m dia. x 100m

CALLATER TIE-BACK TO BA

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Chemicals and hydraulics via

Skene

13km umbilical – Electrical

power & signal

Process and export via BA

system

Production via BA bridge pipework

3.85 km Bundle14” & 8” pipelines

Tie-in Towhead(Future tie-ins)

6 slot manifold (Expansion & future tie-ins)

Production via existing Skene

bundle

Production through existing

caisson

Tie-in toSkene South

Bundle Manifold

Topsides structures and new flowlines

Piping, E&I, controls, F&G modifications

Separator upgrades

Subsea controls system

Structural Access

and Support Platforms

14” and 8” Flowlines

147 Valves

Manifold Replacement

DeltaV Control

Fire & Gas Modifications

Flowline and Separator Modifications

Hydraulic Power Unit and Master Control System

Produced Water Modifications

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CALLATER TOPSIDES

80,000 Man Hours of Offshore Construction

Diverter Valve

Platform

Choke Access

Platform

Metering Platform

Hydraulic Power Unit

14” and 8” Flowlines

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CALLATER SUBSEA

Facilities Installation

Bundle Towhead Manifolds

3.85km Bundle

Subsea Controls

13km Umbilical

Protection

Tie-ins

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KEY RESULTS

Project Performance

Zero LTI’s in 800,000 project man hours, 80,000 man hours topsides

27% below budget

Aggressive time line with a winter subsea installation

23 months from discovery to 1st oil

First oil achieved ahead of plan

Right first time delivery

Industry recognised and benchmarked as best in class performance

Winner of the OGA MER Award 2017

BENCHMARKING

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BENCHMARKING

Cost per Maximum Number of Well Connections

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BENCHMARKING

Umbilical Cost per Cumulative Length

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BENCHMARKING

Engineering to Start-up vs Hydrocarbon Throughput

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BENCHMARKING

Platform Cost per Tonne

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BENCHMARKING

Project Management Cost as a Percentage of Capex

THE PORTFOLIO

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Beryl AreaNNS

Forties AreaCNS

THE APACHE PORTFOLIO

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NNS - BERYL FIELD

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CNS - FORTIES FIELD

THE PLAN

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Large infrastructure investment have resulted in top quartile production

efficiency and opex/boe

Focusing investments on projects that utilize existing infrastructure to hold

production flat, maintain opex/boe, extend asset life, and delay

decommissioning

Projects competing for funding across our international portfolio

INVESTMENT STRATEGY

Returns focused investments in Forties and Beryl Areas with:

Lower risk platform drilling and water injection optimisation to maintain reservoir pressure

Step out subsea exploration tie-back to operated infrastructure

Future activity consists of:

Operating 2 platform rigs and 1 semi-sub rig

Potential to add more rigs as oil price dependant cash flow allows

Targeting 1 subsea tie-back per year

Investing in safety and production critical assets and infrastructure projects

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Intermediate towhead tie-in

location

Gas Lift via existing Riser A8

Production via existing Riser

A3 or A6

GARTEN FACILITIES DEVELOPMENT

Hydraulic, chemicals, power

via existing Bundle

Gas lift via existing Bundle

Production via existing Bundle

(PL1697 or PL1698)

Production through spare riser

E5

New 6km Production Line

back to RAT

New topsides flowline to Train A

All other services remain from

Buckland System

New Garten well adjacent to S33

Transported via existing BA bridge

pipework

HIPPS

CORONA FACILITIES DEVELOPMENT

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10” PiP production, 8” HSP pipelines

Transported via existing BA bridge

pipework

2 Development Wells

Pipelines & Umbilical alongside Buckland,

rock dump protection

Umbilical entry into Riser A7

Accesses RAT via Production riser E4

Process and export via BA system

Produced Water treatment for

overboard

Aquifer lift & injection pumps for

HSP water supply

13km umbilical –Hydraulics, Chemical,

Power & Comm’s

Simplified Facilities Requirement

Re-use of existing equipment

Greenfield works

Supportive host

Subsea – 9km tie-back

4 slot manifold

10” fully rated pipeline

Umbilical

6” wash water line

Topsides

Production and utility tie-ins

Subsea controls interface

Chemical injection mods

SEAGULL FACILITIES DEVELOPMENT

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STORR FACILITIES CONCEPT

BERYLALPHA RAT

SKENE

BUCKLAND

10 km

15.2km

4km

7km

STORR

20km

9 km

CALLATER2 km

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TitanBeryl Field

Val d’IsereForties Field

NEAR FIELD EXPLORATION

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TITAN FACILITIES CONCEPT

4 Slot production manifold.

11 km 8” insulated production pipeline.

11 km Umbilical

11 km 6” Water Injection pipeline

Power supply (ESP) or Gas lift pipeline

4 Slot production manifold.

1 km Tie-back

Umbilical/Water Injection/Gas Lift

20 - 30,000 BPD oil capacity

200 - 300,000 Barrels storage

ESP or Gas lift Driven Wells

Overboard water

Small FPSO/NUI Platform optionTie back option

VAL D’ISERE FACILITIES CONCEPT

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Val d’Isere Subsea

Manifold

Vail PLET

(Well Tie-in)

Co

ntro

l/ Services Um

bilical

Pro

du

ction

Line

Gas Lift Lin

e

SSIV to Vail (5.4 km)

VVDI SSIV Manifold

Vail to Val d’Isere (5.7 km)

FC Riser (New or Re-

Use)

FC to SSIV (500m)

HPUChemical

InjMCS

TUTU

Test Manifold

Production Manifold

Riser ESDV

MPFM

ESDV /HIPPS

ESDV /HIPPS

PCV

ESDV

HP Flare

Routing Valve

Routing Valve

DGL Header

RiserESDV

System Bundle System Highly Insulated PiP Flowline

Production Line Insulation U- Value ~ 1 W/m2K U- Value ~ 1 W/m2K

Flowlines

10” Prod6” GL

2 x 4” Heating Lines2” Methanol

3” Scale Squeeze

10” Prod6” GL

UmbilicalHP / LP Hydraulic Functions

Power & SignalsChemical Injection (WI / AI / SI)

HP / LP Hydraulic FunctionsPower & Signals

Chemical Injection (WI / AI / SI) Methanol & Scale Squeeze Cores

Structures Towhead Structure (4x) 4 Slot Manifold (VDI)

PLET (V)SSIV

Topsides

Production & GL System Tie-inNew HPU / MCS / Chemical Injection / TUTU

WaterNew Riser Caisson (Prod / GL / Umbilical / HM)

Production & GL System Tie-inNew HPU / MCS / Chemical Injection / TUTU

WaterNew Riser (Prod / GL)

SUBSEA PROJECTS 2018

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Forties ROV Inspection Platform based inspection

Vessel based inspection

Forties ICCP retro-fit clamps

Beryls ROV Inspection Platform based inspection

Vessel based inspection

Infill Wells – Garten, BKA

Nevis South N11 P+A preparatory

Leak detection systems and processes

CP anode retro-fits BA condeep & Flare Tower

Subsea Trees

BA Seawater Ballast temporary plug

CONTRACTING WITH APACHE

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Apache expects that Contractors and Suppliers will:

Subscribe to and actively pursue the highest standard of Health, Safety and Environmental performance

Uphold the highest standards of business ethics in its dealings with Apache

Demonstrate honesty, integrity and a sense of urgency

Work with Apache to develop a mutually beneficial relationship, incorporating innovative commercial models where possible

Submit complete and valid invoices in a timely manner, complete with adequate back up documents

Comply with the Supply Chain Code of Practice requirements for Suppliers, in particular the need to maintain up to date records in FPAL.

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SUPPLY CHAIN CONTRACTING

Forward Work Plans

Visit the FPAL website to review this online www.fpal.com

Benefits of the Work Plans:

Help provide an indication of future activity by Purchasers.

Act as a planning aid to help facilitate potential business opportunities.

Support the Supply Chain Code of Practice (SCCoP)

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