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Thursday, May 13, 2021

Suriname oil discoveries estimated at 1.4 billion barrels – Rystad Energy

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Norway-based independent energy research and business intelligence company, Rystad Energy, says the three discoveries made offshore Suriname to date are estimated to contain combined oil equivalent resources of almost 1.4 billion barrels.

Maka Central-1 and Sapakara West-1 were the first two discoveries and are reportedly significant with the potential for accelerated first oil subjected to further evaluation. Operator Apache has reported that the third discovery at Kwaskwasi-1 was the best well drilled to date.  

“The three discoveries made in Block 58 have estimated about 1.4 billion barrels of oil equivalent resources. These are Rystad Energy’s estimates based on the net pay in each discovery,” said Sonya Boodoo, Vice President of Upstream Research at Rystad Energy.

She said Rystad Energy estimates the Kwaskwasi discovery at 728 million barrels of recoverable oil equivalent resources. “We think that Maka Central has around 400 million barrels of oil equivalent and we think Sapakara West has around 250.”

Boodoo said current production in Suriname from two onshore fields stands at around 16,000 to 20,000 barrels of oil per day. “If the three recent discoveries are developed this will result in a significant increase in production. If it is developed in the way we think it would, we can see production from them averaging around 450,000 barrels per day at the peak.”

Apache Corporation said last week the Noble Sam Croft drill ship has commenced operations at the Keskesi East-1 exploration well, approximately 14 kilometers (9 miles) southeast of Sapakara West-1. The Keskesi well will test upper Cretaceous targets in the Campanian and Santonian.

Block 58 lies along the Guyana/Suriname border, suggesting it may share similar reservoir qualities as the vast resource footprint ExxonMobil has uncovered in Guyana.

Apache holds a 50% working interest in Block 58 and will continue to be the operator through the completion of the Keskesi well. Total S.A. holds the remaining 50% working interest.

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