[Total] Block 58 Offshore Suriname

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[Total] Block 58 Offshore Suriname

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TOTAL ANNOUNCES THIRD SIGNIFICANT DISCOVERY IN BLOCK 58 OFFSHORE SURINAME

Total and Apache Corporation have made a significant third discovery with the Kwaskwasi-1 well, in Block 58 off the coast of Suriname. This follows previous discoveries at Maka Central in January and Sapakara West in April.

In Suriname, Apache has a leading position in arguably the most watched new basin on the globe.

Apache entered Suriname after winning bids for Block 53 and Block 58 offshore in 2012 and 2015, respectively.

In the years since, the company expanded its understanding of the basin through extensive geologic modeling and seismic acquisition. In 2019, Apache began drilling the Maka Central-1 well in Block 58 and subsequently brought in Total S.A. as a 50-50 Joint Venture partner to explore and develop the block. The partners announced a discovery at Maka Central-1 in January 2020, followed by additional discoveries later in the year.

Block 58 comprises 1.4 million acres. Apache also owns a 45% interest in Block 53, which covers 867,000 acres.

The well was drilled by a water depth of about 1.000 meters and encountered a total of 278 meters net pay of hydrocarbons, which comprises 149 meters net in good quality Campano-Maastrichtian (composed of 63 meters of high quality oil and 86 meters of volatile oil & gas condensates reservoirs), along with 129 meters of net hydrocarbon pay in Santonian reservoirs, where further wireline logging is ongoing to confirm the quality of the fluids.

“We are very pleased to announce a third discovery in a row, following the two oil discoveries at Maka Central and Sapakara West this year,” said Kevin McLachlan, Senior Vice President Exploration at Total. “This very encouraging results confirm our exploration strategy in this prolific zone, which targets large volumes of resources at low development costs.”

The Kwaskwasi-1 exploration well was drilled by Apache, as operator with 50% working interest, and with Total as the JV partner with 50% working interest. The next and fourth exploration well will be drilled back to back on the Keskesi prospect. Total will take over as operator of the Block after the drilling of the fourth well

In early 2021, an appraisal campaign will be carried out to better characterize the 2020 discoveries, along with an additional exploration campaign.
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