Suriname’s Staatsolie Eyes Stake in Apache’s Prolific Offshore Block

Suriname’s state-owned oil company Staatsolie is considering farming into an offshore oil block where Apache Corp and France’s Total SA have announced a third major discovery, an executive said on Sunday.

Staatsolie has the right to a stake of up to 20% in the 1.4 million-acre Block 58, where Apache and Total last week announced the find at the Kwaskwasi-1 well. The stake would cost the company $1-$1.5 billion to acquire given total development costs of $6-$7 billion, acting general manager Agnes Moensi-Sokowikromo told reporters.

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