Total: acquires a share of Suriname bloc
(CercleFinance.com) - Total announces the signature of an agreement with Apache Corporation to acquire a 50% stake and Bloc 58 operator status, off the coast of Suriname, an extension of the discoveries in the adjacent block of Stabroek in Guyana
The Maka-1 exploration well is being drilled in Block 58 and preliminary results confirm the potential of the licence.
Two other exploration wells are to be drilled by Apache before the transfer of operator status.
Total is to pay a bonus of 100 million dollars as well as its share of costs incurred. In the event of development, Total will provide refundable coverage of part of Apache's investment and will make additional payments linked to development and production.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
The Maka-1 exploration well is being drilled in Block 58 and preliminary results confirm the potential of the licence.
Two other exploration wells are to be drilled by Apache before the transfer of operator status.
Total is to pay a bonus of 100 million dollars as well as its share of costs incurred. In the event of development, Total will provide refundable coverage of part of Apache's investment and will make additional payments linked to development and production.
Copyright (c) 2019 CercleFinance.com. All rights reserved.