Acreage expanded with offshore Suriname acquisition

ExxonMobil recently signed an agreement that adds significant acreage to the company’s operated portfolio in the Guyana-Suriname Basin.

Article Jan. 1, 2017

Acreage expanded with offshore Suriname acquisition

ExxonMobil Exploration and Production Suriname B.V., along with co-venturers Hess and Statoil, signed the production sharing contract for Block 59 with Staatsolie Maatschappij Suriname N.V., the national oil company of Suriname, in July.

Signing ceremony for the production sharing contracts in Suriname.
Photo — Company and government representatives at the signing ceremony for the production sharing contracts. From left to right: Marny Daal-Vogelland, Manager, Petroleum contracts, Staatsolie; Minister Regilio J. Dodson, Suriname minister of natural resources; Rudolph Elias, CEO, Staatsolie; Erik Oswald, Vice President Americas, ExxonMobil Exploration Company; Timothy J. Chisholm, Vice President exploration Atlantic Basins, Hess; and Martijn Smit, country representative for Suriname, Statoil.

Deepwater Block 59 is in water depths ranging from nearly 2,000 meters to 3,600 meters, located approximately 190 miles (305 kilometers) 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. 

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

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 the acquisition and analysis of seismic data.