PARAMAIRBO, Suriname – The Suriname government has welcomed Monday’s announcement by the French company, TotalEnergies, that it has discovered a significant amount of oil and gas in the Krabdagu-1 well in Block 58, offshore Suriname..
“With the final investment decision on the horizon, the government is very positive about the most recent This discovery will certainly have a positive impact on the investment decision that is on the agenda for the second half of the year 2022,” it said in an official statement.
TotalEnergies and the American Apache Corporation (APA Corporation) announced that they had discovered a significant amount of oil and gas in the Krabdagu-1 well and the government said that the final investment decision will be leading for the further organization and development of the Surinamese oil and gas sector.
It said that the outlook for the future in this sector is also very promising.
After this well, TotalEnergies will continue exploration drilling while Apache will also start an exploration well in Block 53 in March this year. Shell will also start drilling in Block 42 in the second quarter of this year.
“This and previous successes confirm and support the government’s development vision. Government continues to maintain the course to use the proceeds of the fossil fuel to develop renewable, green sectors so that the development of our beautiful nation can progress responsibly and steadily. Suriname will undoubtedly take its place as a potential oil producer with pride,” said the statement.
TotalEnergies and APA Corporation said the new discovery follows previous discoveries at Maka, Sapakara, Kwaskwasi and Keskesi, and the successfully tested Sapakara South-1 appraisal well. Located 18 kilometers south-east of Sapakara South.
“Krabdagu-1 was drilled at a water depth of 780 meters and encountered approximately 90 meters of net oil pay in good quality Maastrichtian and Campanian reservoirs.
“This successful exploration well at Krabdagu-1 is a significant addition to the discovered resources in the central area of Block 58. This result encourages us to continue our exploration and appraisal strategy of this prolific Block 58 in order to identify sufficient resources by year end 2022 for a first oil development” said Kevin McLachlan, Senior Vice President, Exploration at TotalEnergies.
Drilling and logging operations will continue, using the Maersk Valiant drillship. DST operations will be carried out on Krabdagu-1 to appraise the resources and productivity, and at least three further exploration and appraisal wells are planned to be drilled in 2022 on the block.
TotalEnergies is the operator of Block 58, with a 50 percent working interest, while APA Corporation holds the remaining 50 percent.
