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Apache noted last week that an appraisal well appraisal programme, including a flow test of
drilled at Kwaskwasi had encountered “two thin Sapakara South-1 before year-end.”
intervals of black oil above water in the Cam- Equity in Block 58 is split 50:50 between
pano-Maastrichtian [layers],” but it stressed that TotalEnergies and Apache. The French major is
these reservoirs were “separate and unrelated” to serving as operator of the project. ™
those found at Sapakara South-1.
Kevin McLachlan, senior vice-president for
exploration at TotalEnergies, expressed satisfac-
tion with the latest discovery at Block 58.
We are pleased by this new successful well
at Sapakara South-1, very similar to the one
announced in Keskesi earlier this year. These
repeated positive results confirm our strategy,
which targets large resource volumes at low
development costs,” he said. “As the operator
of the prolific Block 58, this encourages us to
continue our effort, jointly with our partner, to
add to the resource base while conducting the
appraisal operations designed to prove a com-
mercial oil development.”
John J. Christmann IV, the president and
CEO of Apache’s parent organisation APA
Corp., also struck a positive note. “We are very
encouraged by the initial appraisal, having con-
firmed 30 metres of a single, blocky sand that
is full to base with black oil. These are the char-
acteristics necessary to accelerate development
in this area of Block 58, which has high pros-
pect density,” he commented. “We are excited
to explore the northern portion of the block at
Bonboni and look forward to continuing our Sapakara South-1 is the fifth oil discovery at Block 58 (Image: TotalEnergies)

BRAZIL
CADE agrees to push back deadlines

for sale of three Petrobras refineries

BRAZIL’S national oil company (NOC) Petro- the deadline for sale of Refinaria Lubrificantes
bras said last week that it had reached an agree- e Derivados do Nordeste (LUBNOR) in Ceara
ment with CADE, the government’s anti-trust state and Refinaria Alberto Pasqualini (REFAP)
agency, on new extensions of the deadlines for in Rio Grande do Sul state back from July 31 to
sale of three refineries. October 30.
Petrobras and CADE had originally agreed Additionally, CADE left the deadlines for
in 2019 that the latter would complete the sale the sale of another four refineries in place.
of all eight of the oil-processing plants included Specifically, it gave Petrobras until October 30
in its privatisation programme by December 31, to unload Refinaria Gabriel Passos (REGAP)
2020. Now, though, the deadline for the final sale in Minas Gerais State, Refinaria do Nordeste
will fall in December 31, 2021. (RNEST) in Pernambuco State and Unidade de
The NOC has secured the latest extensions Industrializacao de Xisto (SIX) in Parana State.
on the grounds that the coronavirus (COVID- Additionally, it said the NOC must sign sales
19) pandemic has continued to disrupt plans contracts for Refinaria Presidente Getulio Var-
for due diligence and site visits by potential gas (REPAR) by December 31.
investors. Thus far Petrobras has only succeeded in
CADE had said in March of this year that unloading one of the eight facilities slated for
it would give Petrobras until July 31 to divest sale in 2019. Earlier this year, it arranged to sell
Refinaria Isaac Sabba (REMAN) in Amazonas the Landulpho Alves Refinery (RLAM) in Bahia
state. Last week, though, the agency moved State to an affiliate of Mubadala Capital (UAE/
the deadline back to August 31. It also pushed Abu Dhabi) for $1.65bn.

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