This is a delicious sauce to serve with various dishes. It can also be added as a condiment to casserole dishes. Combine apricots and water in a small saucepan; bring to a boil over low heat. Cover and let soak for about 30 minutes. Return to a boil, reduce the heat and simmer, covered, until apricots are soft, about 20 minutes. Pour the apricots and the liquid into a blender or food processor.