ExxonMobil signs contract in Guyana-Suriname Basin

GEORGETOWN, July 14, 2017 – US oil company ExxonMobil, Hess Corporation and Norwegian Statoil, have signed a production sharing contract with the National Oil Company of Suriname, for Deepwater block 59 in Suriname.

Statoil announced on Friday that each company will own a third of the interest, with ExxonMobil acting as the operator of the block. According to ExxonMobil, the purchasing of a stake in block 59 will significantly expand its acreage in the Guyana-Suriname basin.

Following the signing, the partners are set to begin the first exploration phase of the contract which will include acquiring 2D seismic data and carrying out technical analysis. The basin is home to the Liza discovery, one of the largest oil discoveries of the past decade.

Block 59 is located 305 kilometres from the capital of Suriname, Paramaribo, and shares a border with Guyana.

Energy company Statoil was also awarded a 100% equity interest and operatorship of block 60, the company announced on Friday.

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