APA Announces Final Investment Decision For First Oil Development Offshore Suriname; Total Investment Is Estimated At $10.5B, With First Oil In 2028
Portfolio Pulse from Benzinga Newsdesk
APA Corporation and TotalEnergies have made a final investment decision for a $10.5 billion oil development project offshore Suriname, with first oil expected in 2028. The project, a 50-50 joint venture, will utilize new technologies to minimize emissions.
October 01, 2024 | 1:06 pm
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APA Corporation has announced a $10.5 billion investment in a joint venture with TotalEnergies for an oil development project offshore Suriname, expected to produce first oil by 2028.
The announcement of a significant investment in a new oil project is likely to positively impact APA's stock price in the short term, as it indicates growth potential and strategic partnerships. The project's focus on minimizing emissions may also appeal to environmentally conscious investors.
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