ExxonMobil acquires interest in offshore Suriname acreage

ExxonMobil acquires interest in offshore Suriname acreage

5:50 AM, 14th July 2017
ExxonMobil logo

IRVING, US: ExxonMobil Corporation (XOM) said that its subsidiary ExxonMobil Exploration and Production Suriname BV along with co-venturers Hess and Statoil, signed a production sharing contract for Block 59 with Staatsolie Maatschappij Suriname NV, the national oil company of Suriname, South America.

The block adds significant acreage to ExxonMobil’s operating portfolio in the Guyana-Suriname Basin.

Deepwater Block 59 is in water depths ranging from nearly 2,000 meters to 3,600 meters, located approximately 190 miles (305 kilometres) offshore Suriname’s capital city, Paramaribo. The block is 2.8 million acres, or 4,430 square miles, and shares a maritime border with Guyana, where ExxonMobil is the operator of three offshore blocks, including the world-class Liza field discovered by ExxonMobil in 2015.

Suriname represents a new country for ExxonMobil’s upstream business. The company has investments throughout South America. Following contract signing, the co-venturers are preparing to begin exploration activities, including acquisition and analysis of seismic data.

ExxonMobil and consortium partners Hess and Statoil each hold a third of the interest in the block. ExxonMobil is the operator.

“We look forward to working with Staatsolie and our co-venturers to evaluate the potential of this new acreage. Adding this block enhances our leading global deepwater portfolio,” said Steve Greenlee, president of ExxonMobil Exploration Company.

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