LatinNews Daily - 24 August 2022

In brief: Major oil discovery in Suriname

*The US oil and gas firm APA Corporation has announced an oil discovery offshore Suriname at Baja-1 in Block 53, its first on that block along the coast of the South American country. In a press release APA Corporation said that Baja-1 was drilled to a depth of 5,290m and encountered 34m of net oil pay in a single interval. According to the press release “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 press release cites APA CEO and president John Christmann as saying that: “Our success at Baja marks the 6th oil discovery we have participated in offshore Suriname, and the first on Block 53”. APA is the operator and holds a 45% working interest in Block 53, with Malaysian oil and gas firm Petronas holding a 30% working interest and Spanish multinational oil and gas firm CEPSA holding a 25% working interest. APA also holds a working interest in Block 58 with French multinational TotalEnergies holding the remaining 50% working interest.

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