SURINAME OFFSHORE: A BUSTLING MARKETPLACE
Not so long ago people were wondering if exploration across Suriname’s Offshore Area, would ever deliver a discovery. Exploration efforts until then almost steadily ended either in a dry well or uncommercial oil shows. But how things have changed since then.
Only weeks after news broke in November 2019 that Apache’s drilling of its Maka Central well in Block 58 was not going well, the company announced that it has reached a Billion-Dollars 50% PI Deal with TOTAL for Block 58.
As if this was not surprising enough, the companies a few days later came with the quite surprising announcement that their Maka-Central well in hindsight turned out to be Suriname’s long awaited first discovery.
This was a true gamechanger, which rapidly brought the two companies new discoveries at Sapakara-West, Kwaskwasi, by far the best well in the Basin, and Keskesi-East I.
The then “bearish” mood quickly turned into “strongly bullish”. Weeks later the welcomed upward trend further gained pace with the announcement of the first discovery of PETRONAS and EXXONMOBIL at their Sloanea-I well in Block 52.
Together these five discoveries seem to confirm that Suriname step by step is mastering its own Basin and in doing so have gained a better understanding of the apparent southward migration pathway of hydrocarbons from the Canje Source formation. Fittingly already dubbed “Gowtu Waka” (Golden Lane).
Nowadays Suriname’s offshore looks like a bustling market place, where IOC’s and oilfield service contractors are finding their ways through TOTAL becoming the Operator in Block 58, further drilling and appraisal under way in block 58, 3D in block 52, SHELL farming-in in Block 42 and considering their plans for a drilling campaign in due time .
Staatsolie’s Bid Round 2020/2021 for eight Blocks in the SHO area adjacent to Block 58 could therefore not have come at a better time. The Bid Round ultimately resulted in awarding three Blocks to interested IOC’s, which will surely add to the hustle and bustle of a new Prolific Oil Province in the making.