"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.
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