CEPSA farms into Apache Suriname's Block 53
HOUSTON -- Apache Corporation said that CEPSA Suriname, a Spanish company, has farmed in to a 25 percent participating interest in Suriname's Block 53, a 3,509 sq km area located in 1,640-5,900 ft of water about 130 km offshore.
Apache Suriname Corporation, a subsidiary of Apache, signed a production sharing contract for Block 53 with Staatsolie Maatschappij Suriname NV—the Surinamese national oil company—in 2012 after a competitive bid round. The Block 53 work program includes a 3D seismic program, currently in processing, and two exploration wells.
Apache retains a 75% participating interest in the block. Staatsolie has an option to obtain a 20 % participating interest in commercial fields discovered on the block.