ExxonMobil Exploration & Production Suriname, a subsidiary of ExxonMobil, has announced its withdrawal from Block 52 offshore Suriname.
The move is part of an ongoing review of its global portfolio by ExxonMobil, which has formally notified Staatsolie, a vertically integrated state commercial entity, of its departure from the bloc.
The company will transfer its 50% working interest to the block operator, Petronas Suriname E&P, which now has a 100% interest in the block. The expectation is that activities will continue as usual.
Block 52 is located north of the Surinamese coast and has an area of approximately 4,749 km². A gas discovery was made in this block in 2020 with the Sloanea-1 exploration well.
Petronas is further exploring this discovery with the drilling of the Sloanea-2 appraisal well earlier this year. An agreement was signed with the contractor in March.
Staatsolie expects Petronas to continue operations in Block 52 without interruption, maintaining the partnership’s momentum.
ExxonMobil recently agreed to sell its conventional oil drilling operations in the Permian Basin to Hilcorp Energy for approximately $1 billion.
The transaction concerns conventional vertical wells, which are different from the horizontal wells used for shale extraction.
Meanwhile, Petronas recently commissioned Shearwater Geoservices to conduct a 3D seismic survey in Suriname. The project covers 6,000 km²starts in the fourth quarter of 2024 and lasts for three months, using the Amazon warrior ship.
This order continues Shearwater’s collaboration with Petronas in the Block 52 region.
Furthermore, the company, through its Malaysia Petroleum Management division, recently signed two strategic memoranda of understanding aimed at improving technology and operational efficiency in Malaysia’s exploration and production sector.
“ExxonMobil Transfers 50% Stake in Suriname’s Block 52 to PETRONAS” was originally created and published by Offshore Technology, a brand owned by GlobalData.
The information on this site has been included in good faith for general information purposes only. It is not intended to amount to advice on which reliance should be placed and we make no representation, warranty or guarantee, express or implied, as to its accuracy or completeness. You must obtain professional or specialist advice before taking or refraining from any action on the basis of the content on our site.
