1 1 01/03/2013 1

Mark Richardson

Apache North Sea

APACHE NORTH SEA SUBSEA UK 2013

MARK RICHARDSON

PROJECTS GROUP MANAGER

3

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, 2011, 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

4

Apache Corporation

North Sea

Egypt

Australia

Central Canada

Argentina

GOM Shelf GOM Deepwater Permian

0

100

200

300

400

500

600

700

800

MBOE/D, Net

2012O - 782 MBOE/D

Liquids = 51%

Oil (354 MB/D) = 89% of liquids

2012O - $17.0 billion revenue

Liquids = 83% of revenue

International = 57% Revenue

Oil Brent Linked = 72%

Permian 107 MBOE/D

Central 61 MBOE/D

Gulf Coast 28 MBOE/D

Canada 125 MBOE/D

GOM Shelf 97 MBOE/D

GOM Deepwater 16 MBOE/D

North Sea 75 MBOE/D

Australia 64 MBOE/D

Egypt 157 MBOE/D

Argentina 49 MBOE/D

Gulf Coast

5

North Sea Region

6

Industry Safety Statistics 2011(1)

(1) Oil and Gas UK

HSE Enforcement notices listed on HSE website over last 5 years Company Number of

Improvement Notices

Number of Prohibition

Notices

Maersk (all sections) 24 4

Petrofac Facilities Management 12 1

Talisman 11 1

Shell U.K. 11 5

CNR 10 1

Marathon 6 0

Nexen 6 0

BP 4 0

Chevron 4 0

Total E&P 4 0

Apache 3 0

Taqa 2 0

Premier Oil 2 0

Improvement Notices in the Last 5 Years(1)

(1) http://www.hse.gov.uk/notices

Lifting Costs

8

0

5

10

15

20

25

30

35

2009 2010 2011 2012 2013

Op

era

tin

g C

ost

($

/bo

e)

CNS

NNS

Non-Op

Industry

(1) Oil and Gas UK

(1)

9

Revenue Stream

10

Subsea Projects

11

Bacchus Subsea Tie-back

12

The Industry UKCS Oil and Gas Industry Oil Price £116 a barrel

Capital spending £9.9 billion on exploration and new developments

Annual operating expenditures of £7 billion

In 2011/12, £11.2 billion in tax revenues

The wider supply chain tax contributed another £6 billion

In 2011, UK oil and gas exported £6 billion of oilfield goods and services

440,000 jobs across the UK

North Sea Rig Utilisation 94.9%, Semi-sub rate $400k/d (2)

Subsea Sector (3)

The UK subsea sector has grown by 40% over three years

Subsea UK’s survey of 761 companies showed the sector to be one of the UK’s highest performing

UK subsea industries in 2009 owned 31% of an £18.9billion of global market

Aberdeen and Aberdeenshire 38% of a subsea industry 40,000 subsea-related

UKCS Capital Investment Forecast P50 (1)

(1) Oil and Gas UK Activity Survey 2012 (2) http://www.rigzone.com/data/rig_report.asp?rpt=reg (3) http://www.nofenergy.co.uk/energy-industry/oil-and-gas/subsea.htm (4) http://www.moneyweek.com/news-and-charts/market-data/oil

Oil Price in the last 5 Years (4)

The UKCS in broad terms remains competitive compared with the other opportunities within our global portfolio

Offers materiality

Favourable rate of return

Well established supply chain

Skilled workforce

Secure

Balanced mix of liquids and gas

13

Investing in UKCS

14

Barriers to Investment

Taxation Subject to Unilateral Political Motives

Fiscally sensitive offshore oil and gas region

Investment opportunities require certainty to appraised and funded

Decommissioning

Government honouring existing tax codes

Security Agreements that recognize financial capabilities

Timely Access to Infrastructure

Unnecessary development and operating costs

Stranded marginal opportunities

15

What can Subsea UK Members do?

Responsible and Accountable

Pay your dues

Local content and training

Risk Management

Defer, delay and do nothing is unacceptable

Contract and commercial barriers

Cost Management

Corporate memory

Remuneration