On 18 May 2020, KL news confirms a company deal in which Petronas subsidiary, PetronasÂ Suriname Exploration andÂ Production B.V. (PSEPBV) completed a 50% interest farm-down to ExxonMobil Exploration and Production Suriname B.V. (EEPS). Located approximately 120 km off the coast of Suriname in water depths ranging from some 50 m to 1,000m, Block 52 covers 4,749 sq km and is considered to have potential in the Upper Cretaceous. Along with new 3D seismic, the high impact Sloanea 1 new-field wildcat (NFW) well is planned for a Q3 2020 spud date. Block 52 is adjacent to Block 58 where Apache and partner Total are drilling the Kwaskwasi 1 NFW targeting Campanian and Santonian objectives that are independent from Q1 2020 Sapakara West 1 and Maka Central 1 discoveries on the acreage. Petronas is Apache's partner in Block 53 where both the Popokai 1 and Kolibrie 1 were abandoned with oil shows in 2015 and 2017, respectively. PSEPBV also operates Block 48, which remains undrilled.  Background information   On 26 April 2013, Staatsolie signed a Production Sharing Contract (PSC) with Malaysiaâs Petronas for Block 52. Petronas will invest USD 25 million on the block, conducting 3D seismic and drilling at least one exploration well. Block 52 covers 4,743 sq km and is considered to have high-impact potential in the Upper Createcous. Under the 30-year contract, should the Malaysian company develop a commercial discovery on the acreage, Staatsolie would have the option to participate with a 20% stake.   With this deal, Petronas becomes anther new entrant in the deepwater frontier acreage. It follows Apache that was awarded a PSC for Block 53 in October 2012 and Chevronâs June 2012 signing for a 50% WI in nearby Blocks 42 and 45.   Nearby, Staatsoile offered four blocks in the Offshore Demerara Plateau - Blocks 54 (8,824 sq km), Block 55 (7,765 sq km), Block 56 (5,704 sq km) and Block 57 (5,527 sq km). Closing date for bids was 26 July 2013. Data packages became available on 8 October 2012 and include some 5,000km 2D Broadseis seismic data acquired in December 2011. Respective 2D acquisitions for each block are 1,350km in Block 54, 1,073km in Block 55, 938km in Block 56 and 1,018km in Block 57. The Demerara Plataea is a prominent submarine plateau located off the coasts of Suriname and French Guiana. Water depths of the blocks on offer range between 200m to 3000m.
ExxonMobil has acquired a 50% stake from Petronas in block 52, 4,861 sq km in WD 50-1,100m, Guyana-Suriname Basin. Sloanea-1 nfw is planned here, target U. Cretaceous, 2-3 month well, semi sought. So far Petronas (op), partner Wintershall Dea. Staatsolie has a 20% back-in right in the event of a commercial find.