Apache, Total Make Major Oil Find Offshore

            Block 58 Suriname Map (courtesy Apache Corp. and Total S.A.)

Apache Corp and its joint venture partner Total SA announced Wednesday that they made their third oil discovery offshore Suriname.

The “major oil discovery” was made at the Kwaskwasi-1 well drilled by the Noble Sam Croft in Block 58, where Apache is operator and holds 50% working interest and Total holds the other 50%.

“We are thrilled with the results from the Kwaskwasi-1 exploration well. This is the best well we’ve drilled in the basin to date, with the highest net pay in the best quality reservoirs,” said John J. Christmann, Apache CEO and President. “While we have a lot more work to do, a discovery of this quality and magnitude merits a pace of evaluation that enables the option of accelerated first production.”

Kwaskwasi-1 was drilled to a depth of approximately 6,645 meters and successfully tested for the presence of hydrocarbons in multiple stacked targets in the upper Cretaceous-aged Campanian and Santonian intervals.

Preliminary fluid samples and test results indicate at least 278 meters of net oil and volatile oil/gas condensate pay in two intervals. The shallower Campanian interval contains 63 meters of net oil pay and 86 meters of net volatile oil/gas condensate pay. Based on samples taken, the API oil gravities are between 34 and 43 degrees. The deeper Santonian interval contains 129 meters of net hydrocarbon reservoir. The team is still collecting data on API oil gravities in the Santonian.

Block 58 comprises 1.4 million acres and offers significant potential beyond the discoveries at Kwaskwasi, Sapakara West and Maka Central. Apache has identified at least seven distinct play types and more than 50 prospects within the thermally mature play fairway.

Upon completion of operations at Kwaskwasi-1, the Sam Croft will move to the fourth prospect in Block 58, Keskesi, which is located approximately 14 kilometers southeast of Sapakara West-1. The Keskesi exploration well will test oil-prone upper Cretaceous targets in the Campanian and Santonian.

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