APA CORPORATION MAKES ITS FIRST OIL DISCOVERY AT BAJA-1 OFFSHORE SURINAME
Houston-based APA Corporation announced an oil discovery offshore Suriname at Baja-1 in Block 53 and provided an update on recent drilling operations at Dikkop-1 in Block 58.
Baja-1 was drilled to a depth of 5,290 meters (17,356 feet) and encountered 34 meters (112 feet) of net oil pay in a single interval within the Campanian. Preliminary fluid and log analysis indicates light oil with a gas-oil ratio (GOR) of 1,600 to 2,200 standard cubic feet per barrel, in good quality reservoir. The discovery at Baja-1 is a down-dip lobe of the same depositional system as the Krabdagu discovery, 11.5 kilometers to the west in Block 58. Evaluation of open-hole well logs, cores and reservoir fluids is ongoing.
APA recently received regulatory approval regarding an amendment to the Block 53 Production Sharing Contract (PSC), which provides options to extend the exploration period of the PSC by up to four years. The company is currently progressing the formalization of the election of the first one-year extension, for which all work commitments are complete.
APA is operator and holds a 45% working interest in Block 53, with Petronas holding a 30% working interest and CEPSA holding a 25% working interest. Baja-1 was drilled using the Noble Gerry de Souza (Ex. Pacific Santa Ana) in water depths of approximately 1,140 meters (3,740 feet). The drillship will mobilize to Block 58 following the completion of current operations, where it will drill the Awari exploration prospect, approximately 27 kilometers (north) of the Maka Central discovery.
APA also announced that operations have concluded on the Dikkop exploration well in Block 58. The well encountered water-bearing sandstones in the targeted interval and has been plugged and abandoned. TotalEnergies is the operator with a 50% working interest, and APA holds the remaining 50% working interest. The drillship Maersk Valiant will be moving to the Sapakara field to drill a second appraisal well at Sapakara South, where the joint venture conducted a successful flow test late last year.
In 2021, Apache Corporation moved to a holding company structure under APA Corporation, the public company trading on the Nasdaq stock exchange. APA acquired the Suriname and Dominican Republic subsidiaries from Apache. Apache Corporation is a direct, wholly-owned subsidiary of APA and continues to hold assets in the U.S., subsidiaries in Egypt and the U.K., and economic interests in Altus Midstream Company and Altus Midstream LP.
(Source: APA Corporation – Image: Drillship Noblke Gerry De Souza ex Pacific Santa Ana)
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