Total getting Block 58 “volumes right” before FID, likely in 2024 – Staatsolie asset manager

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Exploration and non-operated venture asset manager at Suriname’s state-owned Staatsolie, Patrick Brunings is confident of a final investment decision for Block 58 next year. 

Brunings told Hart Energy that operator TotalEnergies and APA Corporation are quantifying the finds it has made in the offshore prospect. 

“It is more of a volumetric goal they are trying to achieve, getting the right volumes. So far, everything is going accordingly, but in terms of strategy, we know that they are very close to their goal…they want to start big…,” he disclosed. 

Things seem positive for Suriname, as the country looks to replicate ExxonMobil’s Stabroek block success – with its 11 billion barrels of discovered resources offshore Guyana. 

Total’s Chief Executive Officer (CEO) had said the confirmation of the desired estimated resources to kickstart production could be completed by mid this year

Its shining star is the Sapakara discovery, which APA CEO and Chairman, John Christmann said could be a key component of a future project.

APA Corp. revised the resource estimate of the Sapakara reservoir to more than 600 million barrels.

SPS-2 encountered approximately 36 meters (118 feet) of net oil pay in high-quality Campano-Maastrichtian reservoir. Data collected from the flow test and subsequent pressure build-up indicated an incremental connected resource of more than 200 million barrels (MMbbls) of oil in place.

Sapakara may just be APA and Block 58’s operator TotalEnergies “first project” Christmann noted. 

But a possible joint development of the Sapakara and Krabdagu reservoirs is being considered.

The Krabdagu-1 well is located about 18 kilometres southeast of Sapakara South. Drilled at a water depth of 780 metres, it encountered approximately 90 metres of net oil pay in good quality Maastrichtian and Campanian reservoirs. Flow test results at Krabdagu point to an oil-in-place resource of approximately 180 million barrels (MMbbls).

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