Friday, September 29, 2023

Apache hits dry well offshore Suriname

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Apache Oil and Gas Corporation has failed to find commercial quantities of oil at its Kolibrie-1 well, offshore Suriname. The closely-watched drilling operations took place 129km off the coast of the South American country, in Block 53.

The Noble Douglas drill ship has since departed the location.

World-class discoveries made by ExxonMobil and its partners offshore Guyana over the last several months has renewed optimism and interest in exploration activities in the Guyana-Suriname Basin and has served to derisk the area. Already a number of new wells have been earmarked for exploration over the next two years by several companies operating off Guyana’s coast.

Apache in 2012 signed a production-sharing contract for Block 53 with Staatsolie—the Surinamese national oil company—following a competitive bid round. The acreage covers 3,509 sq km in 1,640-5,900 ft of water.

Under the PSC, Block 53 has a work program that included 3D seismic, geological surveys, and the drilling of two exploration wells. Under the 30-year contract, Apache will take full responsibility for all costs during the exploration phase. If a commercial find is made and brought into production, Apache will receive reimbursement for such costs.

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