ExxonMobil Acquires Interest in Acreage Offshore Suriname
July 13 2017 - 1:00PM
Business Wire
- Agreement expands ExxonMobil operated
acreage in the Guyana-Suriname basin
- Deepwater block 190 miles offshore
Suriname
- Preparations underway to begin
exploration activities
Exxon Mobil Corporation (NYSE:XOM) announced today that its
subsidiary ExxonMobil Exploration and Production Suriname B.V.,
along with co-venturers Hess and Statoil, signed a production
sharing contract for Block 59 with Staatsolie Maatschappij Suriname
N.V., the national oil company of Suriname. The block adds
significant acreage to ExxonMobil’s operated portfolio in the
Guyana-Suriname Basin.
Deepwater Block 59 is in water depths ranging from nearly 2,000
meters to 3,600 meters, located approximately 190 miles (305
kilometers) offshore Suriname’s capital city, Paramaribo. The block
is 2.8 million acres, or 4,430 square miles, and shares a maritime
border with Guyana, where ExxonMobil is the operator of three
offshore blocks, including the world-class Liza field discovered by
ExxonMobil in 2015.
“We look forward to working with Staatsolie and our co-venturers
to evaluate the potential of this new acreage,” said Steve
Greenlee, president of ExxonMobil Exploration Company. “Adding this
block enhances our leading global deepwater portfolio.”
Suriname represents a new country for ExxonMobil’s upstream
business. The company has investments throughout South America.
Following contract signing, the co-venturers are preparing to begin
exploration activities, including acquisition and analysis of
seismic data.
ExxonMobil and consortium partners Hess and Statoil each hold a
third of the interest in the block. ExxonMobil is the operator.
CAUTIONARY NOTE:
Statements that reference future events or conditions in this
press release are forward-looking statements. Actual future
results, including project plans, costs, and schedules, production
rates, and resource recoveries may differ significantly from the
forecasts, depending on changes in oil or gas prices and other
market or economic factors that affect the petroleum industry; the
outcome of development programs; reservoir performance; unexpected
technical difficulties or other technical or operating factors; the
actions of governmental authorities or regulatory agencies; and
other factors listed under the heading “Factors Affecting Future
Results” on the Investor page at the ExxonMobil website at
www.exxonmobil.com and in Item 1A of ExxonMobil’s most recent Form
10-K. References to barrels of oil and other quantities of oil or
gas in this release include volumes that are not yet classified as
proved reserves under SEC definitions, but that we believe will
ultimately be produced.
About ExxonMobil
ExxonMobil, the largest publicly traded international oil and
gas company, uses technology and innovation to help meet the
world’s growing energy needs. ExxonMobil holds an industry-leading
inventory of resources, is the largest refiner and marketer of
petroleum products, and its chemical company is one of the largest
in the world. Follow ExxonMobil on Twitter at
www.twitter.com/exxonmobil.
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