KUALA LUMPUR: A Petronas subsidiary is sharing on a 50-50 basis its exploration activities offshore Suriname, along the Atlantic coast of South America and north of Brazil, with an ExxonMobil unit.
Petronas Suriname Exploration and Production BV (PSEPBV) has completed the farm-down (industry term) of 50% of its participating interest to ExxonMobil Exploration and Production Suriname BV (ExxonMobil) in Block 52.
The Block is north of the coast of Paramaribo, Suriname’s capital, and is situated in the Suriname-Guyana basin where several major hydrocarbon discoveries were made recently. It covers 4,749 sq km with water depths ranging from 50 metres to 1,100 metres.
“Our upcoming exploration activities for Block 52 will involve the drilling of a well in the third quarter of 2020, in addition to acquiring new 3D seismic data utilising the latest technology to further evaluate the block’s upside potential.
“We look forward to this partnership with ExxonMobil and are determined to continue with the success story on hydrocarbon discoveries in the basin,” said Petronas’ Exploration vice-president Emeliana Rice-Oxley in a statement today.
In 2016, PSEPBV drilled the Roselle-1 well in Block 52 which provided crucial subsurface information and data on the petroleum system of the area.
Subsequent detailed analysis carried out by PSEPBV indicated that Block 52 contains multiple geological play types and is within the favourable fairway for hydrocarbon generation and accumulation.
The recent oil discoveries in an adjacent block support this assessment, Petronas said.
In addition to Block 52, PSEPBV also holds a 100% participating interest and operatorship for Block 48, and a 30% non-operated participating interest in Block 53. – May 19, 2020, Bernama
