Drillship off the coast of Suriname
Subsidiary: APA Suriname

In Suriname, APA Corporation has a leading position in one of the most watched new basins on the globe. Apache entered the country after winning bids for Block 53 and Block 58 offshore in 2012 and 2015, respectively. Those assets were transferred to APA Corporation (APA) Suriname in 2021.

In December 2019, the company entered into a joint venture agreement with TotalEnergies (formerly Total S.A.) to explore and develop Block 58 offshore Suriname. APA holds a 50% working interest in Block 58, which comprises approximately 1.4 million gross acres in water depths ranging from less than 100 meters to more than 2,100 meters. Since 2019, APA and TotalEnergies have drilled or participated in several discovery wells in the block. Ongoing exploration and appraisal drilling is underway to confirm additional resources and optimal development well locations.

During 2023, APA and TotalEnergies announced the launch of development studies for a large oil project in Block 58. Successful appraisal of two key oil discoveries, with the drilling and testing of two wells at Sapakara South and three wells at Krabdagu, confirmed combined recoverable resources of an estimated 700 million barrels of oil for the two fields. These fields, located in water depths between 100 and 1,000 meters, are expected to be produced through a system of subsea wells connected to a floating production, storage and offloading unit located 150 kilometers off the Suriname coast, with an oil production capacity of 200,000 b/d.

Detailed engineering studies are underway, and a final investment decision is expected by year-end 2024, with a first production target in 2028. No additional drilling is anticipated on Block 58 through the end of 2024.

APA is the operator of Block 53 offshore Suriname and holds a 45% working interest in the block. The company announced an oil discovery at the Baja well in Block 53 during the third quarter of 2022. During 2023, APA was granted an extension to retain approximately 13,000 net undeveloped acres for its operated Baja discovery area, allowing the remaining net undeveloped acres to expire in Block 53 as of the end of 2023.

Please click here for a description of the Suriname PSC and Block 58 APA Corporation/Total JV mechanics and see APA Corporation’s Investors page for the latest quarterly updates and disclosures.

Please note the data on this page is current as of Dec. 31, 2023.