Saturday, June 10, 2023
  • Contact Us
The Caribbean Post
Advertisement
  • Current News
    • Politics
    • Business
  • Tech News
  • Education
  • Entertainment
    • Travel
    • Lifestyle
  • Health
    • Recipes
  • World
    • Antigua
    • Aruba
    • Barbados
    • Barbuda
    • Dominica
    • Dominican Republic
    • Guadeloupe
    • Guyana
    • Haiti
    • Jamaica
    • St Lucia
    • Suriname
    • Tobago
    • Trinidad
No Result
View All Result
The Caribbean Post
  • Current News
    • Politics
    • Business
  • Tech News
  • Education
  • Entertainment
    • Travel
    • Lifestyle
  • Health
    • Recipes
  • World
    • Antigua
    • Aruba
    • Barbados
    • Barbuda
    • Dominica
    • Dominican Republic
    • Guadeloupe
    • Guyana
    • Haiti
    • Jamaica
    • St Lucia
    • Suriname
    • Tobago
    • Trinidad
No Result
View All Result
The Caribbean Post
No Result
View All Result
Home World Suriname

Significant oil find confirmed in Apache’s Krabdagu well in Suriname

Staff by Staff
June 23, 2022
in Suriname, World
0
Significant oil find confirmed in Apache’s Krabdagu well in Suriname
2
SHARES
13
VIEWS
Share on FacebookShare on Twitter

You might also like

Flying drones and chasing data, Indigenous women in Guyana join fight against climate change – The Associated Press

Guyana school fire: Pupil suspected of starting deadly blaze over 'confiscated phone' – Yahoo News

ExxonMobil, Hess Announcements Add To Guyana's Oil And Gas Bonanza – Forbes

Suriname is well on its way to developing its first offshore petroleum project in its deep-sea area following the discovery of more than 180 million barrels of oil in the Krabdagu well.

The American oil company, APA Corporation, has been working to make the Dutch-speaking Caribbean Community (CARICOM) country, an oil-producing state.

APA Corporation announced Tuesday that more than 180 million barrels of oil have been found based on flow tests conducted at the Krabdagu well and as a result, a final decision by the participating companies to bring the oil reserves off the coast into production is one step closer.

– Advertisement –

“Flow test data collected in the two lower intervals, the Upper Campanian, and Lower Campanian, indicates oil-in-place resource of approximately 100 and 80 million barrels (MMbbls) respectively connected to the KBD-1 well,” APA Corporation announced.

It said the tests were performed in the exploration well, and appraisal drilling will be necessary to confirm additional resources and optimal development well locations. The exploration well encountered another high-quality, lower GOR interval in the Upper Campanian that was not in a location suitable for flow testing. This shallower Campanian zone will need to be flow tested in the appraisal stage from a more optimal location.

“The results from the Krabdagu flow-test in the two lower intervals are in line with our expectations and provide data that accelerate our understanding of the field and will shape future activity. This includes identifying the optimal well locations that enable assessment of upside resource potential for each target,” said John J. Christmann IV, APA’s chief executive officer, and president.

– Advertisement –

“The connected resource demonstrated from the flow tests at Krabdagu combined with the results from Sapakara South, are a significant step forward in advancing a project in this area of Block 58,” he added.

The final investment decision, the so-called FID, was expected in the first quarter of this year, but that decision may not be made until the third quarter of this year or perhaps early 2023.

President Chandrikapersad Santokhi has on several occasions called on the business community not to take a wait-and-see attitude, but to invest in advance and be ready when the first oil is discovered.

Suriname has been producing oil on a small scale onshore for just over 40 years and is at least 60 percent self-sufficient in terms of the national need for gasoline. Part of the fuel and other petroleum products produced by the state-owned company Staatsolie are exported.

The Guyana-Suriname basin, where at least 11 billion barrels of oil have already been identified off the coast of neighboring Guyana, is seen as one of the most promising underexplored areas in the world.

Guyana already produces and exports oil by the US-based oil company, ExxonMobil, making this country with oil revenues one of the fastest-growing economies in the world today.

APA Suriname holds a 50 percent working interest in the block, with TotalEnergies (TTE), the operator, also holding a 50 percent working interest.

The APA-TTE joint-venture is currently drilling the Dikkop exploration well in the central portion of Block 58 with the Maersk Valiant. Following completion of operations at Dikkop, the Valiant is expected to continue exploration and appraisal activities in the central portion of Block 58.

CMC/

 


Credit: Source link

Tags: ApachesconfirmedfindKrabdaguoilSignificantSuriname
Previous Post

Record Number of Haitian Migrants Rescued by Coast Guard

Next Post

Faster Business Outcomes: A Tale of Two Transformations

Staff

Staff

Related Posts

Flying drones and chasing data, Indigenous women in Guyana join fight against climate change – The Associated Press
Guyana

Flying drones and chasing data, Indigenous women in Guyana join fight against climate change – The Associated Press

by Staff
May 25, 2023
Guyana school fire: Pupil suspected of starting deadly blaze over 'confiscated phone' – Yahoo News
Guyana

Guyana school fire: Pupil suspected of starting deadly blaze over 'confiscated phone' – Yahoo News

by Staff
May 24, 2023
ExxonMobil, Hess Announcements Add To Guyana's Oil And Gas Bonanza – Forbes
Guyana

ExxonMobil, Hess Announcements Add To Guyana's Oil And Gas Bonanza – Forbes

by Staff
April 28, 2023
Guyana’s Rupununi Rodeo celebrates local cowboy culture – The Hill
Guyana

Guyana’s Rupununi Rodeo celebrates local cowboy culture – The Hill

by Staff
April 9, 2023
World Court says it can rule on Guyana-Venezuela border dispute – Reuters Canada
Guyana

World Court says it can rule on Guyana-Venezuela border dispute – Reuters Canada

by Staff
April 6, 2023
Next Post
Faster Business Outcomes: A Tale of Two Transformations

Faster Business Outcomes: A Tale of Two Transformations

Recommended

Spring Home Decor Trends Your About to See Everywhere

Spring Home Decor Trends Your About to See Everywhere

January 25, 2023
Guadeloupe: Another Dominican dies, investigation underway

Guadeloupe: Another Dominican dies, investigation underway

February 20, 2022

Categories

  • Business (705)
  • Current News (341)
  • Education (32)
  • Entertainment (109)
    • Lifestyle (46)
    • Travel (19)
  • Health (352)
    • Recipes (264)
  • Politics (38)
  • Tech News (82)
  • World (3,479)
    • Antigua (28)
    • Aruba (30)
    • Barbados (28)
    • Barbuda (28)
    • Dominica (29)
    • Dominican Republic (29)
    • Guadeloupe (537)
    • Guyana (885)
    • Haiti (28)
    • Jamaica (28)
    • St Lucia (27)
    • Suriname (28)
    • Tobago (884)
    • Trinidad (889)

Don't miss it

The ‘Golden Promise’ of economic reform in Caucasus and Central Asia
Business

The ‘Golden Promise’ of economic reform in Caucasus and Central Asia

June 9, 2023
UK – Canada unveils over £24M in new science and innovation agreements
Business

UK – Canada unveils over £24M in new science and innovation agreements

June 9, 2023
Lemon Blueberry Pound Cake – Immaculate Bites
Recipes

Lemon Blueberry Pound Cake – Immaculate Bites

June 9, 2023
5 Reasons You Shouldn’t Visit Jamaica (Even if it is Safe)
Lifestyle

5 Reasons You Shouldn’t Visit Jamaica (Even if it is Safe)

June 8, 2023
Crepe Suzette – Immaculate Bites
Recipes

Crepe Suzette – Immaculate Bites

June 8, 2023
Global economic outlook improving, albeit to a low growth recovery
Business

Global economic outlook improving, albeit to a low growth recovery

June 8, 2023
The Caribbean Post

This is an online news portal that aims to share latest news about Africa, Caribbean and other countries of Africa with respect to business, entertainment, breaking updates and stuff like that. Feel free to get in touch!

Categories

  • Business
  • Current News
  • Education
  • Entertainment
    • Lifestyle
    • Travel
  • Health
    • Recipes
  • Politics
  • Tech News
  • World
    • Antigua
    • Aruba
    • Barbados
    • Barbuda
    • Dominica
    • Dominican Republic
    • Guadeloupe
    • Guyana
    • Haiti
    • Jamaica
    • St Lucia
    • Suriname
    • Tobago
    • Trinidad

Browse by Tag

announces Barbados Bites Business Caribbean Caribe climate COVID COVID19 Cup development Dominica economic energy food France French global growth Guadeloupe Guyana Guyanas Guyanese Health Immaculate Jamaica Local man Minister National News oil police President Room Route Silicon support team Tobago Tobagos trade Trinidad weather World

Recent News

The ‘Golden Promise’ of economic reform in Caucasus and Central Asia

The ‘Golden Promise’ of economic reform in Caucasus and Central Asia

June 9, 2023
UK – Canada unveils over £24M in new science and innovation agreements

UK – Canada unveils over £24M in new science and innovation agreements

June 9, 2023
Lemon Blueberry Pound Cake – Immaculate Bites

Lemon Blueberry Pound Cake – Immaculate Bites

June 9, 2023
5 Reasons You Shouldn’t Visit Jamaica (Even if it is Safe)

5 Reasons You Shouldn’t Visit Jamaica (Even if it is Safe)

June 8, 2023

2022© Design by CodingBite | Powered by LuxamaMedia.

No Result
View All Result
  • Current News
    • Politics
    • Business
  • Tech News
  • Education
  • Entertainment
    • Travel
    • Lifestyle
  • Health
    • Recipes
  • World
    • Antigua
    • Aruba
    • Barbados
    • Barbuda
    • Dominica
    • Dominican Republic
    • Guadeloupe
    • Guyana
    • Haiti
    • Jamaica
    • St Lucia
    • Suriname
    • Tobago
    • Trinidad

2022© Design by CodingBite | Powered by LuxamaMedia.