Suriname

Summary Information

Asset Weg Naar Zee (WNZ)
Location Onshore, Suriname
Ownership 100%
Operator BPC
Stage Appraisal / Extended Well Test
Asset Type Production Sharing Contract
STOIIP 24.1mmbbl* (over 8 pools)
Fiscal Regime Cost recovery and R-Factor based production sharing
Tenure 3-year exploration period to October 2022

30-year PSC term to October 2039 or 25-years from approval of first development plan, whichever is later

 

* Subject to BPC review during balance of 2020

Suriname

New Country, Proven Oil

  • Proven Oil with 70 wells drilled within the WNZ block and 114km of 2D seismic acquired
  • Well testing program targeting up to STOIIP 24* mmbbl spread over 8 pools (first target comprises approx. 50% of total STOIIP)
  • The work program comprises geological and geophysical studies and two extended well tests during initial 3-year period
  • It is anticipated that should the extended production tests be successful then their future development could lead to additional production in excess of 500 bopd

 

Production Potential

  • WNZ is an onshore block -approximately 900km2 which is located close to both Paramaribo (Suriname capital) and the existing oil sales infrastructure of the main onshore Tambaredjo production field and local refinery
  • Extensive 2D seismic data and previous well information (including well test data) is available to assist in future development of hydrocarbons from WNZ
  • Discovered oil in mapped discrete sand bodies
  • Suitable for application of Enhanced Oil Recovery techniques used in Trinidad

Share Price

01/12/2020

2.95

Share Price Performance

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