Suriname Signs Offshore Oil Deals with ﻿Exxon, Hess and Statoil
PARAMARIBO, July 13 (Reuters) - Suriname's state oil company Staatsolie said on Thursday it signed production sharing contracts involving Exxon Mobil Corp, Hess Corp and Statoil ASA for two blocks off the coast of the South American nation.
The thirty-year exploration and production agreements involve the areas known as Block 59, to be developed by a consortium consisting of Exxon and Hess, and Block 60, to be developed by Statoil.
The area off the shoulder of South America has generated interest from oil companies after Hess and Exxon discovered crude off the coast of nearby Guyana.
Hess and Statoil already own stakes in Suriname oil projects.
Staatsolie will be able to take up to a 10 percent stake during the development and production phases.
Staatsolie has said that 2016 was one of the most difficult years in its 36-year history due to low oil prices, though the company managed to reach a gross profit of $13 million.
(Reporting Ank Kuipers; Editing by Chris Reese)
WHAT DO YOU THINK?
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.
Operates 15 Offshore Rigs
- ExxonMobil's Reserves Jump 19% On Growth In US Shale, UAE (Feb 09)
- ExxonMobil Hits Baytown Ethane Cracker Milestone (Feb 07)
- ExxonMobil Stock Rout Deepens as Profit Flub Meets S&P 500 Plunge (Feb 05)
Company: Statoil more info
Operates 1 Offshore Rigs
- Big Oil CEOs Appeal to Norway to Back Carbon Capture and Storage (Feb 15)
- Norwegian Police Investigate 2016 Hydrogen Leak At Statoil Refinery (Feb 09)
- Statoil Quits Talks Over Stake In Mozambique Offshore Gas Block (Jan 29)
Company: Hess Corporation more info
Operates 4 Offshore Rigs
- Hess Posts 13th Straight Quarterly Loss; Shares Dive (Feb 05)
- Hess Cutting Hundreds of Workers As It Battles Activist Investor (Jan 16)
- ExxonMobil Reports More Offshore Guyana Success (Jan 05)