Page 10 - LatAmOil Week 10 2023

LatAmOil SURINAME LatAmOil

“In terms of the estimate at Sapakara, there is Contrast to TotalEnergies
good confidence. We flow-tested those volumes. TotalEnergies has been striking a more cau-
It is really high-quality rock. It [has] low gas-oil tious note on Block 58. Last month, Patrick
ratio (GOR) oil and really got one main sand Pouyanné, the chairman and CEO of the
package. So it is going to have a high recovery ... French major, indicated that his company did
[We] have great confidence there,” he explained. not expect to confirm the estimated resources
APA had reported on February 10 that SPS- needed to begin oil production offshore Suri-
2, the second appraisal well drilled at the Sapa- name by mid-2023.
kara South discovery, had encountered around Speaking during his company’s February 8
36 metres of net crude oil pay in the Campa- earnings conference, Pouyanné reported that
no-Maastrichtian reservoir. the partners had at least confirmed that it had
It described the reserves as “high-quality” half of the oil reserves needed to support a devel-
and said the data it had collected during flow test opment project. He also noted that two appraisal
and the subsequent pressure build-up indicated wells were being sunk at the Krabdagu discov-
that the well held more than 200mn barrels of ery and said he hoped this drilling programme
oil in place (OIP) in incremental connected would cover the remaining gap.
resources. The first commercial discovery was made at
Christmann also noted during the earnings Block 58 offshore Suriname in 2020, and several
conference that reserve estimates for Block 58 more commercial finds have been made since
might go even higher, as APA and TotalEnergies then. Pouyanné pointed out on February 8,
were not finished with appraisal drilling. “And though, that the fields offshore Suriname were
then, we have got the two appraisal wells that are “a little more complex” than his company’s
being drilled at Krabdagu right now,” he said. other assets. TotalEnergies has had to work to
This means Sapakara may be just the “first understand the reservoirs it has discovered, and
project” carried out at Block 58, he remarked. He there have been some mismatches between the
also stated, though, that TotalEnergies and APA seismic data and the results of the delineation
were looking into the possibility of developing wells, he said.
the Sapakara and Krabdagu reservoirs together. According to previous reports, the discov-
“We are working with our partner toward a eries at Block 58 include Maka Central, Kwask-
potential development hub where you would be wasi, Sapakara Central, Keskesi, Sapakara South
bringing in both Krabdagu and Sapakara. They and Krabdagu. All of these fields are in a spe-
are a little different in terms of the makeup and cific section of the licence area that lies along
so forth,” he said. the same trendline as many of the finds made at
“It is premature to talk about anything pend- Stabroek, a neighbouring site to the west within
ing the results of appraisal at Krabdagu, which the Guyanese section of the Guyana-Suri-
we are very excited about,” he added. “And it is name basin. Beyond the trendline, the partners
moving right along.” have struck out at Bonboni, where they found
Christmann further described Block 58 sub-commercial oil reserves in 2021, and at Dik-
as having “a lot of potential” but stressed that kop, where they found only water in mid-2022,
the company and its French partner were still and again at Awari in late 2022.
evaluating the data they had collected during TotalEnergies and APA have divided equity
drilling. “I do believe we will have an ongoing in the Block 58 project on a 50:50 basis. The
programme in Suriname, as there is a lot of pro- French major serves as operator of the offshore
spectivity,” he added further. site.. ™

BRAZIL
Petrobras’ LNG imports fell sharply in 2022

BRAZIL’S national oil company (NOC) Petro- In other words, total national demand for nat-
bras has announced that its LNG imports ural gas declined as hydroelectric power plants
dropped sharply in 2022, sinking by 74% on the (HPPs) boosted production as a result of favour-
previous year. able weather conditions.
Additionally, the state-owned company The decline in demand was evident over
revealed that the volume of natural gas imported time. Overall, Petrobras imported 6mn cubic
from neighbouring Bolivia had dropped by 15% metres per day of regasified LNG in 2022, but it
year on year in 2022. only handled 1mn cubic metres per day on aver-
According to Petrobras’ 2022 financial age in the fourth quarter of the year. By contrast,
report, the shift in both metrics was a result of LNG imports hit a record high of 23 mcm per
the “lower natural gas thermoelectric dispatch day in 2021, marking a 200% jump on the previ-
due to the favourable hydrological scenario.” ous year’s figure.

P10 www. NEWSBASE .com Week 10 08•March•2023