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E & P News

2016

Jun 2017: Staatsolie and ExxonMobil, Hess and Statoil have reached an agreement on a PSC for offshore Block 59. Meanwhile an agreement has also been reached with Statoil for Block 60.  In September 2017 the ‘Open Door Policy Offshore Suriname’ will be reopened.

May 2016: Kosmos (operator, 33.33%) and Chevron (33.33%) have farmed-out to Hess a one-third interest in offshore Block 42 on the border with Guyana. Hess will fully fund a 6,500 sq km 3D seismic survey starting in Q3 2016 and will disproportionately fund the first contingent exploration well.

2014

Jul 2014: Staatsolie (Surinam’s NOC), announced blocks released for negotiations following a request for companies to nominate areas of interest. Three offshore blocks (58, 59 and 60) and 2 onshore blocks (Commewijne and Nickeris) are identified. Bids are due before 30 Jan 2015.

2013

Jun 2013: RWE Dea has signed a farm-in agreement with Petronas, acquiring a 40% interest in Block 52. Petronas is operator and now has 60%. The licence area covers 4,743 sq kms and lies in the Guyana-Suriname Basin in water depths ranging from 100 to 1,000m. The planned work programme comprises a 3D survey and the drilling of one exploration well in the next 3 years.

Apr 2013: State oil company Staatsolie and Petronas signed a production sharing contract for offshore block 52. Petronas will drill at least one exploratory well and conduct a 3D seismic survey. In 2012 Staatsolie signed a production sharing deal with Apache to explore Block 53. In January 2013 Suriname’s 5th bidding round was officially opened, offering Blocks 54, 55, 56 and 57 on the Demerara Plateau.

2012

Nov 2012: The 5th International Bidding Round is expected to be formally opened at the start of 2013 by Staatsolie, the National Oil Company (NOC) of Suriname. Four blocks will be offered in the round, Block 54, Block 55, Block 56 and Block 57, all located in the Demerara Plateau Area in eastern offshore deep waters.

Oct 2012: Apache Corp has signed a PSC with Staatsolie Maatschappij Suriname for offshore Block 53. The parties have agreed to a minimum work program for the 3-year exploration phase which includes a 3D seismic survey and two wells. Apache will take responsibility for all costs with Staatsolie given a stake in the optional 2.5-year development phase of up to 20% with reimbursement. Block 53 is located 130 kms off the NW coast of Paramaribo. Apache is one of 22 international companies that participated in the bidding round held from Feb through June 2012.

Jun 2012: Chevron has acquired 50% of Blocks 42 and 45.

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