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
3 December 2024
Papua New Guinea’s LNG sector appears to be back on track, with other projects in the pipeline
2 December 2024
Crucial role of gas means country is laying the foundations to control physical and trading supply chains
30 November 2024
Decades of turmoil have left Iraq’s vast energy potential underutilised, but renewed investment and strategic reforms are transforming it into a key player in the region
29 November 2024
Although Iraq remains a major crude exporter, it is still some way from becoming a regional energy supply hub. Ambitious new cross-border schemes aim to rectify that situation
