Block 58 Archives - Panorama Insurance Brokers

Total confirms plans underway to deliver first oil at Suriname Block 58 by 2025

French oil major total has confirmed that plans are underway to begin developing oil fields at Suriname’s Block 58 as early as 2025, around five years after the first major discovery was made at Maka Central-1, mirroring the rapid development ramp up seen in neighbouring Guyana by ExxonMobil. According to a March 6, 2021 report… Read More

Apache says Kwaskwasi is its ‘best well’ offshore Suriname

Apache Corporation remains highly enthusiastic about prospects offshore Suriname and the discoveries it has made to date at Block 58, labelling the last target where it hit pay – Kwaskwasi-1 – as the ‘best well’ encountered so far. Kwaskwasi-1, announced in July this year, was drilled to a depth of approximately 6,645 meters (21,800 feet)… Read More

Apache lines up 5th exploration well in Suriname as priority shifts to South America

U.S. based Apache Corporation has selected its 5th exploration well offshore Suriname at the prolific Block 58 where it has already made three discoveries and is now moving forward with appraisal drilling. The company said on its Q3 2020 earnings call on Thursday that it intends to step up its operations in the South American… Read More

Suriname expects to earn up to $60 billion from offshore discoveries – Rudolf Elias

Suriname expects to potentially earn up to $60 billion from development of hydrocarbon resources at the three discoveries made to date offshore the South American country. Rudolf Elias, CEO of Suriname’s National Oil Company, Staatsolie Maatschappij Suriname NV, during a webinar discussion – Guianas Green Economy Dialogue – on Wednesday pointed to the Maka Central-1,… Read More

Maka, Sapakara appraisal plans submitted as Suriname edges closer to offshore development

The appraisal programmes for Suriname’s first two deepwater discoveries have been submitted to state oil company Staatsolie as the South American country looks to forge ahead with development of its offshore oil resources. Suriname’s first offshore discovery at the Maka Central-1 well was announced in January 2020 and the second one at the Sapakara West-1… Read More

Suriname oil discoveries estimated at 1.4 billion barrels – Rystad Energy

Norway-based independent energy research and business intelligence company, Rystad Energy, says the three discoveries made offshore Suriname to date are estimated to contain combined oil equivalent resources of almost 1.4 billion barrels. Maka Central-1 and Sapakara West-1 were the first two discoveries and are reportedly significant with the potential for accelerated first oil subjected to further… Read More

Suriname’s Block 58 could hold 6.5 billion barrels of oil – Morgan Stanley

US multinational investment bank and financial services company Morgan Stanley says its modelling of Suriname’s Block 58 shows that it contains a potential 6.5 billion barrels of oil equivalent resources which can be developed across seven phases with first oil targeted for 2026. Kwaskwasi-1, Apache’s third and largest discovery offshore Suriname, encountered at least 278… Read More

Apache’s Block 58 offers most promise for Suriname resource – Morgan Stanley

US multinational investment bank and financial services company Morgan Stanley says despite a wave of lease awards beginning in 2010, no commercial oil resource had been discovered in offshore Suriname prior to Maka Central-1, Apache’s first exploration well on Block 58. Now, with the success of three discoveries, the last of which is seen as… Read More

Apache extends Noble Sam Croft contract for Suriname campaign

Apache Corporation, operator at Block 58 offshore Suriname, has extended its contract for the Noble Sam Croft drillship by executing an option for another well. The contract initially expired in June, prior to which the Sam Croft made two discoveries at Block 58 – Maka Central-1 and Sapakara West 1. These discoveries mark the first… Read More

Staatsolie taking ‘accelerated steps’ to prepare for offshore oil bounty

Fresh off the historical twin oil discoveries at Block 58, Suriname state oil company Staatsolie says the oil strikes mark a change for both the company and country and it has been preparing for this for years, partly through its Strategy for Success, a six-core strategy. “Now that two discoveries have been made – and… Read More