Hydrocarbon Discovery Offshore Suriname
Apache Corporation announced a successful wildcat, Maka Central-1 (Block 58), offshore Suriname in January, surprising for its proximity to 12 deepwater dry wells in that country, and also from a company more associated with low risk core basins in Egypt, the North Sea and the Permian play. The discovery is set to drive exploration and deal making in Suriname, proving as it does the southward extension of the 8 Bbo (to date) ‘Liza play’ across the border from Guyana into Suriname – the largest new offshore oil play in the world.
Maka Central-1 was drilled in 1,400m of water to a TD of 6.3 km, finding 50m light oil and gas condensate in Campanian sands and 73m oil in Upper Cretaceous Santonian clastics. Having reached the initial target, Apache promptly farmed down 50% to Total, who paid $100m cash plus longer term bonuses.
The discovery should improve the chances for other players in the basin – Petronas, Cepsa, Kosmos, Chevron and Hess – and perhaps NOC Staatsolie, which is planning to launch a licence round immediately to the south of Block 58 later this year.
However, the geology changes quickly at the Lower Cretaceous and Jurassic Demerara platform high to the east, host to many a failed wildcat campaign so far, and all firms will be mapping just how far this Liza-style incursion will go. The discovery may also illustrate the potential of the Cretaceous in the southern MSGBC Basin across the Atlantic.
Further Reading on Oil and Gas Activity in Suriname
Suriname - New Technology Unlocks Hydrocarbon Potential
Clyde Griffith, Ralph Kariodimedjo and Mohamed Chandoe, (Staatsolie) Christian Richards, Paul Versnel and Ben Spurgeon, (AustinBridgeporth)
An improved knowledge of fault systems is important in understanding Suriname’s onshore oil fields – and the application of FTG data can be a vital tool in unlocking this knowledge.
This article appeared in Vol. 13, No. 4 - 2016
Petroleum: A New Economic Boost for Suriname
Vinita Bihariesingh-Raghoenath and Clyde Griffith, Staatsolie
Good proven source rocks and reservoirs, and analogs with the conjugate margin across the Atlantic – could the waters offshore Suriname be harboring great riches?
This article appeared in Vol. 10, No. 4 - 2016