A Strategic Case of Deepwater Entry and Evolution

When Apache Corporation made the surprise Maka Central-1 discovery in December 2019 in Block 58 offshore Suriname, the dynamics of the Guiana-Suriname Basin (GSB) shifted dramatically.

Up until that point, TotalEnergies—a seasoned supermajor—had been observing from the sidelines, despite the prior giant discoveries in neighboring Guyana’s Stabroek Block.

The Maka find changed everything for Suriname.

With clear signs of a working petroleum system mirroring Guyana’s, Apache had opened the gateway to a new deepwater frontier.

In a move that surprised many in the industry, TotalEnergies swiftly bought into Block 58, acquiring a 50% working interest and operatorship in a deal estimated at nearly $2 billion USD.

They agreed to carry Apache in the upcoming exploration phase and development planning.

A Smart “Buy-In”: Valuing the Maka Central-1 Discovery

At the time of TotalEnergies’ entry, industry sources and investor briefings suggested that the Maka Central-1 discovery had unlocked approximately 750 million barrels of recoverable oil from high-quality Campanian and Santonian reservoirs.

Based on the rough valuation of $2 billion, TotalEnergies effectively paid about $2.67 per recoverable barrel—an astute investment, given that the deal also included future upside potential from then-ongoing and upcoming wells like Sapakara, Kwaskwasi, and Keskesi.

Chronology of Drilled Wells and Outcomes in Block 58

Disclaimer: Note that this following list is not complete. I may refer to another, following post, where I summarise and analyse all wells drilled up to May 2025.

• Maka Central-1 (Dec 2019): Giant discovery with stacked Campanian and Santonian reservoirs. First breakthrough for Suriname deepwater.
• Sapakara West-1 (Apr 2020): Confirmed deeper Santonian pay; excellent pressure and fluid properties.
• Kwaskwasi-1 (Jul 2020): Spectacular well with massive oil columns; proved continuous charge over a wide area.
• Keskesi East-1 (Jan 2021): Eastern extension discovery; encountered lighter oil and new reservoir stratigraphy.
• Keskesi West-1 (Mar 2022): Less successful appraisal with poorer quality hydrocarbons and low flow potential.
• Exploration & appraisal (2022–2024): Focused on maturing development concepts and selecting FPSO location. Confirmed core development cluster.

The Role of a Supermajor: Why TotalEnergies Matters

For Suriname, having a supermajor like TotalEnergies as operator of Block 58 is not just important—it is vital. TotalEnergies brings:

• Proven deepwater expertise in Africa, Brazil, and the Gulf of Mexico
• Access to capital required for billion-dollar FPSO projects
• Capacity to manage project delivery and risk in challenging frontier regions
• Long-term commitment to carbon-conscious, profitable energy production

The upcoming Grand Morgu FPSO development will be a pivotal milestone in unlocking long-term cash flows for Suriname’s economy and attracting further investment to its prolific offshore acreage.

Conclusion: Unlocking New Energy Frontiers

The evolution of Block 58 from an Apache-operated frontier prospect into a world-class development asset under the stewardship of TotalEnergies demonstrates that exploration success often takes unexpected turns. Sometimes, the path to impact is not linear, but curved—guided by timing, strategy, and the boldness to invest in what others missed.

As someone who has been advising both NOC, IOC/Independents in the Guiana-Suriname Basin since 2008, I’ve seen these dynamics unfold in real-time—geologically, commercially, and geopolitically.

The Block 58 story is far from over, but the chapters already written reveal a compelling narrative of strategic repositioning, exploration excellence, and global capital realignment in favor of Suriname’s future.

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About the Author

Marcel Chin-A-Lien
Petroleum and Energy Advisor
48 Years of global, in-depth expertise and insights.

Proven delivery of transformative, multi-billion-dollar field discoveries, first capitalist ventures in post-Soviet USSR, Dutch North Sea cash-flowing projects, M&A, PSC structuring, and cross-disciplinary petroleum solutions.

Degrees & Accolades:
Drs – Petroleum Geology
Engineering Geologist – Petroleum Geology
Executive MBA – Petroleum & M&A
MSc International Management – Petroleum
Certified Petroleum Geologist #5201 – AAPG
Chartered European Geologist #92 – EFG
AIEN Energy Negotiator
Cambridge Award “2000 Outstanding Scientists of the 20th Century”
Paris Awards – GDF Suez (x2) for Innovative New Business Projects

Contact:
marcelchinalien@gmail.com
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“Exploration & Production integrated with Business & Commercial Development and Critical Insights.”