Page 10 - LatAmOil Week 41 2021

LatAmOil SURINAME LatAmOil

He continued: “So the question is, what do we inventory of all these resources and then we’ll
do with this [associated] gas. There is maybe the be able to engage with the countries” to find a
same point with Guyana. The domestic markets solution for the gas, he added.
could exist but are limited.” Block 58 covers about 1.4mn acres (5,670
Going forward, TotalEnergies and other square km) within Suriname’s offshore zone.
operators assess the size of gas reserves within TotalEnergies has already made five finds within
the Guyana-Suriname basin and then look into the licence area – Maka Central-1, Sapakara
possible regional solutions, he said. “We must West-1, Kwaskwasi-1, Keskesi-1 and Sapakara
continue to appraise [and] to explore. We still South-1. Equity in the project is split 50:50
have very interesting targets on both sides, and between TotalEnergies and Apache, and the
I hope at the end of 2022 we’ll have made a large French major is serving as operator. ™

BRAZIL
Brazil’s latest bidding round disappoints

BRAZIL’S first licensing round since the advent the blocks. He also suggested that the auctions
of the coronavirus (COVID-19) pandemic might have drawn less interest than anticipated
proved less successful than anticipated last because many companies decided their 2021
week, as the National Agency of Petroleum, exploration and production budgets at the worst
Natural Gas and Biofuels (ANP) failed to sell stage of the pandemic in 2020.
off exploration and production rights to some A total of nine companies had signed up
of the country’s most promising offshore blocks. to participate in the bidding round: state-run
The auctions, which brought a total of 92 Petrobras, Chevron (US), Shell, TotalEnergies
blocks in four offshore basins up for sale, did (France), Ecopetrol, Murphy Oil (US), Karoon
draw BRL37.1mn ($6.73mn) into state coffers, Energy (Australia), Wintershall Dea (Germany)
according to Reuters. The news agency noted and 3R Petroleum Oleo e Gas (Brazil). That was
that the combined minimum bids for all the the smallest number of bidders admitted to any
blocks amounted to BRL558mn ($101.2mn) but of Brazil’s bidding rounds to date, Reuters noted.
pointed out that only five blocks – all of them A few of the blocks on sale were thought to be
located in the Santos Basin – had attracted bids. partially located in the prolific pre-salt section of
ANP has now assigned four of those blocks Brazil’s offshore zone. However, none of the sites
to the Anglo-Dutch oil major Royal Dutch in question received any bids.
Shell for about BRL30.5mn ($5.53mn). Shell Brazil’s pre-salt zone covers 149,000 square
also agreed to pay BRL6.6mn ($1.2mn) for a km and is located off the coast of the southern
majority stake in a fifth block, which it intends states of Santa Catarina and Espírito Santo.
to explore and develop in a 70:30 joint venture This area, where vast oil and gas reserves can be
with Colombia’s national oil company (NOC) found under layers of salt trapped beneath the
Ecopetrol. ocean floor, is thought to be one of the world’s
Rodolfo Saboia, the director-general of ANP, most prospective areas. The oil and gas found
asserted that the bidding round had been suc- there is considered to be of high commercial
cessful, in light of the high exploratory risks of value and of very good quality. ™

(Image: ANP)

P10 www. NEWSBASE .com Week 41 14•October•2021