APACHE Corp and Total announced a “significant oil discovery” of “light oil and gas” offshore Suriname on Tuesday at the Maka Central-one well on Block 58 which is just adjacent to the Stabroek Block where ExxonMobil has made major discoveries over the last few years.

Analysts, according to Reuters, are now making estimations on what could be possible for the country based on the projected six billion barrels of oil estimated thus far within the Stabroek Block. Already, Apache’s stocks are sky rocketing to its biggest gain in almost five decades even as Total’s senior Vice-President for Exploration, Kevin McLachlan, reported that the discovery at Maka Central-One well “proves the extension of the Guyana Cretaceous oil play into Surinam waters.”

The confirms geologic model with 73 metres (240 feet) of oil pay and 50 metres (164 feet) of light oil and gas condensate pay and appraisal planning is now underway. “We are very pleased with results from Maka Central-One. The well proves a working hydrocarbon system in the first two play types within Block 58 and confirms our geologic model with oil and condensate in shallower zones and oil in deeper zones. Preliminary formation evaluation data indicates the potential for prolific oil wells. Additionally, the size of the stratigraphic feature, as defined by 3-D seismic imaging, suggests a substantial resource,” said Apache CEO and President, John Christmann.

Located a short distance away from the Maka Central-One well are the Haimara-One well, the Tilapia-One well, the Pluma-One well, the Turbot-One and the Tripletail-One well where between 93 and 23 metres of high-quality, oil-bearing sandstone reservoir has been found. The next well to be drilled off Suriname is the Sapakara West-One, approximately 20 kilometres (12 miles) southeast of Maka Central-One.

Apache, as operator, holds a 50 per cent working interest and Total holds a 50 per cent working interest. Suriname is not the only country to have anticipated positive oil finds based on Guyana’s successes, but energy experts have promoted the ‘Mirror Theory’ which suggests that the petroleum system of the Guiana basins is similar to the West Africa basin.

“Both sides of the Atlantic —the African and the South American—because they were originally joined at one point on earth’s history, must therefore have the same distribution of resources,” Geologist and Product Ambassador at Getech, Dr. William Heins, said explaining the theory. Meanwhile, ExxonMobil has already made 15 oil discoveries offshore Guyana with the Mako-One well, being the most recent in December 2019.