CEPSA unit farms in to block offshore Suriname

CEPSA Suriname SL, Madrid, has acquired a 25% interest in deepwater Block 53 offshore Suriname from Apache Suriname Corp. LDC.

CEPSA Suriname SL, Madrid, has acquired a 25% interest in deepwater Block 53 offshore Suriname from Apache Suriname Corp. LDC.

Apache Suriname retains a 75% participating interest in the block, which it holds under a production-sharing contract with state-owned Staatsolie Maatschappij Suriname NV. Staatsolie can back in for 20% in commercial discoveries on the 867,117-acre block.

The work program calls for a 3D seismic program now in the processing stage and the drilling of two exploration wells.

The block is 80 miles offshore in 1,640-5,900 ft of water.

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