Murphy Aims to Shoot 3D Seismic in 1Q08

Arkansas-based Murphy Oil (NYSE: MUR) aims to shoot 3D seismic for block 37 in Suriname in the first quarter of next year, Murphy E&P president David Wood said in a webcast.

Suriname's state oil company Staatsolie and Murphy earlier this year signed a production-sharing contract for the offshore block.

The seismic work will depend on boat availability, said Wood, adding exploration drilling could begin by late 2008.

Murphy has an 80% working interest in block 37 and the state company the remaining 20%. Staatsolie offered block 37 in its 2006 international bidding round.

The block covers roughly 2.1mn acres (849,800ha) and lies in water depths of 160-1,000ft (48.8-305m).


"We're really not a Latin American player," according to executive.

Wood did say Venezuela is interesting, but it is "just a little difficult to get opportunities I would find attractive."

In Latin America, Murphy produces oil in Ecuador.

Visit BNamericas to access our real-time news reports, 10-year archive, Fact File company database, and latest research reports. Click here for a Free two week trial to our Latin America Oil & Gas information service.


Our Privacy Pledge

Most Popular Articles

From the Career Center
Jobs that may interest you
Land GIS Spatial Analyst - Mineral Land
Expertise: Contracts Engineer|Geologist|Lease Analyst
Location: Denver, CO
Sr Petrophysicist - Delaware Basin Technology
Expertise: Petrophysicist
Location: Midland, TX
DRC Analyst I
Expertise: Engineering Technician|Geoscience Technician|Laboratory Ops / Tech
Location: Houston, TX
search for more jobs

Brent Crude Oil : $48.06/BBL 2.51%
Light Crude Oil : $45.77/BBL 2.17%
Natural Gas : $2.97/MMBtu 2.30%
Updated in last 24 hours