Apache lands deepwater Suriname block

Offshore staff

HOUSTON – Apache has signed a production sharing agreement with Staatsolie Maatschappij Suriname for block 53 offshore Suriname.

The acreage covers 3,509 sq km (1,355 sq mi) in water depths of 1,640-5,900 ft (500-1,800 m), about 80 mi (130 km) offshore.

Apache has agreed to a work schedule that includes a 3D seismic program expected to start next year, and two exploration wells. The company has a 100% interest in the block, although Staatsolie has an option for a 20% stake in the event of a commercial discovery.

Tim Chisholm, director of Apache’s new ventures activities in the Americas, said: “Block 53 is on trend with the large Zaedyus discovery offshore French Guiana – an indication that the Equatorial Margin play fairway may extend to the west side of the Atlantic Ocean.

“Apache was selected after a competitive bid round involving companies with proven international exploration track records.”

11/02/2012

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