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Apache exploration capex ‘predominately’ for Suriname

Bnamericas Published: Thursday, February 25, 2021
Apache exploration capex ‘predominately’ for Suriname

Apache’s US$200mn exploration capex for 2021 will predominately go to Suriname, according to CEO John Christmann.

During the Houston-based company’s fourth quarter and full year 2020 results call, Christmann highlighted plans to spud the Bonboni prospect at offshore block 58.

Apache and Total (operator) each hold 50% in the acreage, where a fourth discovery was announced in January.

Appraisal drilling began this month using the Maersk Developer rig (pictured) to evaluate the Kwaskwasi and Sapakara discoveries, and the Maersk Valiant is due to arrive in the coming months.

A final investment decision is expected by year-end and first oil by 2025.

When asked about Suriname state oil company Staatsolie’s right to farm into the block with up to a 20% stake, the CEO said Staatsolie would like to participate but the NOC would decide once the final investment is given the go-ahead.

Also read Upstream operators double down on Guyana-Suriname basin

Source: Apache

Apache’s regional footprint includes the Dominican Republic where it signed an agreement with the government in October to explore for hydrocarbons in the San Pedro de Macorís maritime basin.

“There’s a small bit there,” Christmann said in response to a question if exploration spend would go to the Caribbean acreage. “We’re starting to go through the work of scoping our 3D seismic shoot.”

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