Murphy to Explore for Oil Offshore Suriname

Murphy Oil's subsidiary, Murphy Suriname Oil Company Ltd., has signed a production sharing contract (PSC) for Block 37 offshore Republic of Suriname in South America. Block 37 covers an area of approximately 2.1 million acres and lies in water depths of 160 to 1,000 feet. The PSC covers an initial six-year exploration phase and includes commitments to drill two wells and acquire 3D seismic.

"We are pleased to have concluded this contract with Staatsolie and look forward to beginning our exploration program in this new area," said Claiborne P. Deming, Murphy Oil Corporation President and Chief Executive Officer. "With multiple play types, offshore Suriname has a lot of attraction. Our new 3D seismic survey planned for later this year will better define targets for our subsequent drilling program which will likely commence in 2008," he added.

Murphy is Operator and has an 80% working interest in Block 37. Staatsolie Maatshappij Suriname N.V., the national oil company of Suriname, holds the remaining 20% interest.

For More Information on the Offshore Rig Fleet:
RigLogix can provide the information that you need about the offshore rig fleet, whether you need utilization and industry trends or detailed reports on future rig contracts. Subscribing to RigLogix will allow you to access dozens of prebuilt reports and build your own custom reports using hundreds of available data columns. For more information about a RigLogix subscription, visit www.riglogix.com.
Events  SUBSCRIBE TO OUR NEWSLETTER

Our Privacy Pledge
SUBSCRIBE


Most Popular Articles


From the Career Center
Jobs that may interest you
Senior Land Professional Job
Expertise: Landman|Lease Analyst
Location: Oklahoma City, OK
 
Surface Land Professional Job
Expertise: Landman|Lease Analyst
Location: San Antonio, TX
 
Automation Systems Analyst II
Expertise: Business Development
Location: Houston, TX
 
search for more jobs

Brent Crude Oil : $51.46/BBL 4.63%
Light Crude Oil : $48.9/BBL 4.78%
Natural Gas : $3.18/MMBtu 0.90%
Updated in last 24 hours