Project Profile
Value: US$230 million
Location: 130 km northwest of Suriname’s capital, Paramaribo
Start-up Year: -
Staatsolie has signed a production sharing agreement with Apache to explore and possibly produce crude from an oil block offshore of the South American country. Apache will invest US$230 million under the 30 year deal to explore Block 53, which lies about 130 kilometres northwest of Suriname’s capital, Paramaribo. The investment will include carrying out 3D seismic research and drilling at least two wells.
Apache would cover the exploration costs, and would be reimbursed if the production of commercial reserves begins, Staatsolie. Staatsolie could take up to a 20% stake in the development stage of the project.
Operators:
Apache: Operator with 55% interest
Petronas: 20% interest
CEPSA: 25% interest