Project Profile
Location: approx. 200 km north west off the coast of Paramaribo, Suriname
Area: 5,830 sq km
Water depth: 55-2,250 metres
Block 58 is located approximately 200 km north west off the coast of Paramaribo, in water depths of 55 to 2,250 metres. Staatsolie has 2,245 km of 2-D seismic data available of the 5,830-sq km block. Block 58 was offered during the 2014/2015 international bidding round.
Staatsolie Maatschappij Suriname and Apache Corp have signed a production sharing contract for exploration, development and production of offshore Block 58 on 24th of June 2015. The agreement, with a 30 years validity, is divided in an exploration, a development and a production phase. Parties have agreed to a minimum working program for the exploration period during which geological surveys, seismic data gathering and exploration drilling are scheduled. All costs during the exploration phase will be covered by Apache and must only be redeemed by Staatsolie in case Apache makes a commercially recoverable find and commences production. The contract offers Staatsolie a maximum stake of 20% for participation in the development and production phase.
Operators:
Apache Corp: Operator with 100% interest
Contractors:
Polarcus Alima: 3-D seismic survey (29th September, 2016)