CEPSA farms into Suriname offshore exploration block

Source:Apache Corporation

CEPSA farms into Suriname offshore exploration block

Apache Corporation said today that CEPSA Suriname S.L., a Spanish company, has farmed in to a 25-percent participating interest in Suriname's Block 53, a 867,117-acre (3,509 km2) area located in 1,640-5,900 feet (500-1,800 meters) of water about 80 miles (130 km) offshore.

Apache Suriname Corporation LDC, a subsidiary of Apache, signed a production sharing contract for Block 53 with Staatsolie Maatschappij Suriname NV — the Surinamese national oil company — in 2012 after a competitive bid round. The Block 53 work program includes a 3-D seismic program, currently in processing, and two exploration wells. Apache retains a 75-percent participating interest in the block. Staatsolie has an option to obtain a 20-percent participating interest in commercial fields discovered on the block.

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now

Whitepapers

Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...

Reduce Engineering Project Complexity

Engineering document management presents unique and complex challenges. A solution based in Enter...

Revolutionizing Asset Management in the Electric Power Industry

With the arrival of the Industrial Internet of Things, data is growing and becoming more accessib...

Latest PennEnergy Jobs

PennEnergy Oil & Gas Jobs