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.
The UK's hydrocarbons regulator has awarded 31 new exploration licences in the country's North Sea waters, Reuters reported on Friday Read More
ExxonMobil announced the closing of its USD 60-billion acquisition of Pioneer Natural Resources on Friday, a move that solidifies its… Read More
BP-Eni joint venture Azule Energy has entered a strategic farm-in agreement with Rhino Resources in Namibia's offshore Orange Basin, the… Read More
Africa-focused energy group Chariot has spudded the RZK-1 exploration well on the Gaufrette prospect at the Loukos Onshore licence in… Read More
Touchstone Exploration has acquired Trinidad-focused Trinity Exploration & Production in an all-shares deal, the Canadian upstream player said on Wednesday Read More
ExxonMobil is "optimistic and pushing forward" with the Rovuma LNG project in Mozambique and eyes an FID by the year's… Read More
This website uses cookies.