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Petronas Suriname sells 50% interest in Block 52 to ExxonMobil

Malaysian-owned Petronas Suriname Exploration & Production BV (PSEPBV) has sold 50 per cent of its participating interest in Block 52, offshore Suriname, to ExxonMobil Exploration and Production Suriname B.V. (ExxonMobil).

“We look forward to this partnership with ExxonMobil and are determined to continue with the success story on hydrocarbon discoveries in the basin,” Petronas Vice-President of Exploration Emeliana Rice-Oxley stated. 

Vice-President of Exploration — Petronas Emeliana Rice-Oxley
(Photo: Oil and Gas Council)

Located north of the coast of Paramaribo, Suriname’s capital city, Block 52 is situated in the prospective Suriname-Guyana basin where several major hydrocarbon discoveries were made recently. The oil field covers an area of 4,749 km² with water depths ranging from 50 metres to 1,100 metres.

In 2016, PSEPBV drilled the Roselle-1 well in Block 52, which produced significant subsurface information and data on the petroleum system of the area. Subsequent detailed analysis carried out by PSEPBV indicated that Block 52 contains various grades and a substantial amount of hydrocarbons.

The recent oil discoveries in an adjacent block have also supported PSEPBV’s assessment.

(Photo: Finbrook)

“Our upcoming exploration activities for Block 52 will involve the drilling of a well in Q3 2020, in addition to acquiring new 3D seismic data utilising the latest technology, covering the whole block to further evaluate the block’s upside potential,” Rice-Oxley disclosed.

In addition to Block 52, PSEPBV also holds a 100 per cent participating interest and operatorship for Block 48, and a 30 per cent non-operated participating interest in Block 53.