TotalEnergies makes oil discovery offshore Suriname

French company TotalEnergies and partner APA Corporation have discovered a significant amount of oil and gas in the Krabdagu-1 well in Block 58, offshore Suriname.

It’s yet to be determined how much the oil explorers will invest in developing Krabdagu-1.

“With the final investment decision on the horizon, the government is very positive ...,” the Suriname government said in a statement. “This discovery will certainly have a positive impact on the investment decision that is on the agenda for the second half of the year 2022.”

After this well, TotalEnergies will continue exploration drilling, while Apache will also start an exploration well in Block 53 in March. Shell will also start drilling in Block 42 in the second quarter of this year.

“This and previous successes confirm and support the government’s development vision. Government continues to maintain the course to use the proceeds of the fossil fuel to develop renewable, green sectors so that the development of our beautiful nation can progress responsibly and steadily. Suriname will undoubtedly take its place as a potential oil producer with pride,” the government said.

TotalEnergies and APA said the new discovery follows previous finds at Maka, Sapakara, Kwaskwasi and Keskesi, and the successfully tested Sapakara South-1 appraisal well.

“Krabdagu-1 was drilled at a water depth of 780 metres and encountered approximately 90 metres of net oil pay in good quality Maastrichtian and Campanian reservoirs,” said Senior Vice-President for Exploration at TotalEnergies, Kevin McLachlan.

“This successful exploration well at Krabdagu-1 is a significant addition to the discovered resources in the central area of Block 58. This result encourages us to continue our exploration and appraisal strategy of this prolific Block 58 in order to identify sufficient resources by year end 2022 for a first oil development” McLachlan said.

Drilling and logging operations will continue on Krabdagu-1 to appraise its resources and productivity, while at least three more exploration and appraisal wells are planned to be drilled in Block 58 this year.

TotalEnergies is the operator of Block 58, with a 50 per cent working interest, while APA Corporation holds the other 50 per cent.

CMC