Through a farm-down agreement with Malaysian company, PETRONAS – Petroliam Nasional Berhad (National Petroleum Limited), ExxonMobil has bought some 50 per cent of participating interest in the Suriname offshore Block 52 which is in range of its Guyana’s Stabroek Block offshore oil basin where it has already made 17 discoveries.
According to the agreement, PETRONAS as the operator of Block 52 holds 50 per cent equity, while ExxonMobil holds the remaining 50 per cent.
“Through its subsidiary, PETRONAS Suriname Exploration & Production B.V. (PSEPBV), has completed the farm-down of 50 per cent of its participating interest to ExxonMobil Exploration and Production Suriname B.V. (ExxonMobil) from a 100 per cent participating interest in Block 52, offshore Suriname,” a release from the company yesterday stated.
