(Photo: businessinsider.com)

ExxonMobil makes first discovery in Suriname

(Photo: businessinsider.com)

Energy company ExxonMobil has made its first discovery of hydrocarbons in waters offshore Suriname.

Earlier today, the oil and gas exploration company, in a release, said it made the discovery along with Malaysian outfit PETRONAS Suriname Exploration & Production (E&P) BV, which was drilling the Sloanea-1 well on Block 52.

“Our first discovery in Suriname extends ExxonMobil’s leading position in South America, building on our successful investments in Guyana,” senior vice-president of exploration and new ventures at ExxonMobil, Mike Cousins, noted.

Mike Cousins, vice-president of exploration and new ventures at ExxonMobil, in discussion with then-minister of state in Guyana’s Ministry of Energy Joseph Harmon during their meeting in September 2018. (Photo: Caribbean Press Release)

“We will continue to leverage our deepwater expertise and advanced technology to explore frontier environments with the highest value resource potential,” he added.

What’s next?

In the meantime, PETRONAS is evaluating the well to determine the potential of the discovery, having drilled to a total depth of approximately 15,682 feet (4,780 metres) using the Maersk Developer rig.

According to PETRONAS Vice-President of Exploration, Upstream Emeliana Rice-Oxley, “We are pleased with the positive results of the well. It will provide the drive for PETRONAS to continue exploring in Suriname, which is one of our focus basins in the Americas.

“We look forward to [another] successful collaboration with our partner ExxonMobil and further strengthen our relationship with the Government of the Republic of Suriname, as a solutions partner, progressing towards delivering clean and reliable energy to the mark,” she added.

PETRONAS Suriname inks US$20.4-m contract with Maersk Drilling

PETRONAS Suriname E&P BV is the operator on Block 52 — an area 75 miles north of Paramaribo and which covers an area of 1.2 million acres (4,749 square kilometres) offshore Suriname — and shares a 50:50 partnership with ExxonMobil E&P Suriname BV.

Petronas Suriname sells 50% interest in Block 52 to ExxonMobil

ExxonMobil’s future plans

Back in November, following an announcement that it posted a loss of US$680 million for the third-quarter of 2020, ExxonMobil said that it would be assessing its portfolio and prioritising near-term capital spending on “assets with the highest value potential”.

Now, with this new discovery in Suriname, ExxonMobil plans to strengthen its industry-leading portfolio in the Guyana-Suriname basin.