Apache and Total to form a Joint Venture.

Apache, a US-based oil and gas exploration and production company, and its French rival Total agreed to form a joint venture to explore and develop Block 58 offshore Suriname. Under the terms of the agreement, Apache and Total will each hold a 50% working interest in Block 58, which comprises approximately 1.4m acres. Apache will operate the first three exploration wells in the block, including the Maka Central-1 well, and subsequently transfer operatorship to Total. “We are very pleased to team up with Apache and Staatsolie, and to become operator of this promising license where we will bring our deepwater expertise. It is indeed a unique exploration opportunity in a prolific basin," Patrick Pouyanne, Total CEO.