The agreements cover two blocks in the Guyana basin:
- In Block 59, Statoil has been awarded 33,33% equity interest. ExxonMobil (operator) and consortium partners Statoil and Hess each hold a third of the interest in the block.
- In Block 60, Statoil has been awarded 100% equity interest and operatorship.
The licenses were awarded through Suriname’s open door policy and production-sharing contracts have been negotiated with the national oil company Staatsolie MaatschappIij Suriname N.V.
Block 59 is a potential extension of the trend on which the Liza discovery was made in neighbouring Guyana.
Block 60 sits adjacent to Tullow-operated Block 54, where Statoil is partner. Tullow is preparing to drill the Araku-1 wildcat exploration well in Block 54 later this year.
In both licenses, the first exploration phase includes commitment to acquiring 2D seismic data and conducting technical studies.