Apache is appraising a February discovery in Suriname
Apache ups Suriname spending
The US independent will be more active in the frontier province for the rest of the year
Houston-headquartered Apache has upped its expectations of 2022 capex by c.$125mn, driven mainly by expectations of greater activity in Suriname. But, while it continues to appraise a February discovery in the country and drill another well, it is coy on exactly what its plans are for the additional spend. Parent company APA is raising full-year capex guidance by c.8pc, to $1.725bn, even after upstream capex in the year’s first quarter was c.$360mn, or $30mn below guidance. “Approximately half of this increase is associated with Suriname as we now plan to keep the Noble Gerry de Souza drillship in country following conclusion of operations at the Rasper well in block 53,” says the firm’s CEO
Also in this section
13 March 2025
Gas will become a more important part of the energy mix longer-term raising the alarm for much-need investment as supply struggles to keep up with demand
13 March 2025
The spectre of Saudi Arabia’s 2020 market share strategy haunts a suffering OPEC+ as Trump upends the energy world
12 March 2025
Petronas-Eni eyes joint venture to prioritise key gas developments, with huge opportunities for growth in Indonesia and a steady Malaysia portfolio
12 March 2025
Bearish market sentiment and bullish long-term outlook for oil and gas consumption prevails at CERAWeek
