APA Corp. in talks for joint development with Guyana after Block 58 discoveries

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With the Block 58 discoveries offshore Suriname seeming promising, APA Corp. is mulling the installation of a floating liquefied natural gas (FLNG) terminal in the basin.

As reported by Bloomberg, APA’s Vice President Gary Clark told investors at the Enercom Conference in Denver, that the company in the medium term plans to reinject the gas, and in the long term, could seek to export it through an LNG terminal. The company said discussions are being pursued for joint development with Guyana.

In Suriname, APA holds a 50% stake in Block 58 alongside operator TotalEnergies. Block 58’s five discoveries are at Maka Central, Kwaskwasi, Sapakara, Keskesi and Krabdagu. Kwaskwasi has been called a giant in the Guyana-Suriname basin, with analysts comparing it to Exxon’s Liza find in the Stabroek Block. Just recently, the Block 58 partners found more oil at the Krabdagu-3 well. They are now focused on completing the Krabdagu appraisal program and scoping an oil hub project to develop the combined Sapakara and Krabdagu resource.

Oil finds in Guyana, Suriname position countries to become “new force” in global energy sector | OilNOW 

APA is the operator and holds a 45% working interest in Block 53, with Petronas holding a 30% working interest and CEPSA holding a 25% working interest. The Baja-1 discovery – first for Block 53 – is currently being assessed for possible development. 

The Suriname basin is estimated to hold some 30 billion oil-equivalent barrels, according to Staatsolie seismic data.

In Guyana, ExxonMobil has discovered 17 trillion cubic feet of gas in the Stabroek Block, about a quarter of the 11 billion barrels of oil equivalent found to date. 

Much of it is in the southeastern portion of the block, near the border with Suriname. Pluma and Haimara are gas fields. Similarly, the discoveries in Suriname’s Block 58 indicate large quantities of gas. 

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