Statoil Stakes Claim Offshore Suriname

Friday, November 18, 2011
Statoil has acquired a 30% participating interest in block 47 offshore Suriname from Tullow Oil. Tullow Oil operates the block 47 licence offshore Suriname with 100% working interest. Tullow will retain the operatorship and 70% working interest. The agreement is subject to approval from Staatsolie Maatschappij Suriname, the state oil company of Suriname.
Block 47 lies in a frontier area in the Guyana Basin. The licence is located some 270 kilometres north of mainland Suriname, with a water depth of between 1,300 and 3,000 metres. A recent discovery offshore nearby French Guyana is a promising indication of the potential in the region. "This cooperation is about executing on Statoil's exploration strategy of securing early access opportunities with emerging potential. This frontier opportunity constitutes an important part of our growing international portfolio," says Pål Haremo, senior vice president in Exploration Global new ventures in Statoil.
The next step is to acquire and interpret seismic data in order to mature the acreage further. Tullow Oil is one of the largest independent oil and gas exploration and production companies in Europe and was founded in Ireland in 1985.
The company focuses on Africa, Europe, South Asia and South America as exploration and production regions.
The farm-in to block 47 in Suriname marks Statoil's first entry into the country. Statoil holds assets in neighbouring Brazil as well as in Venezuela.

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter July 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

No Clues on Hanjin's Financial Health

Cash-strapped Hanjin Shipping Co. sources say that the negotiations with tonnage providers for lower rates are undergoing, but wouldn't say much else.   According to Korea Herald, the country's No.

DP World's H1 Volumes Rise

Ports operator DP World reported on Tuesday first-half 2016 gross container volumes up 1.2 percent on a like-for-like basis and up 2.5 percent on a reported basis.

Samil PwC Okays Hyundai's Management Improvement Plan

Hyundai Heavy Industries (HHI) is notified by Samil PwC, a local member of the global accounting firm PwC, that its 3.5 trillion won worth management improvement

Offshore

Staying Afloat Down Under?

In recent years, Australia has been a major growth area for offshore gas production and a key driver of offshore CAPEX, says Clarksons Research.   However, the

China Asks U.S. to Support Resumption of Talks with Philippines

China's foreign minister has asked the U.S. secretary of state John Kerry to support the resumption of talks between China and the Philippines over the South China Sea,

VesselValue.com: $28.4B Worth of Ships Delivered to Date

As the calendar now indicates we have passed the half year mark on 2016, VesselValue.com offers insight on the number and value of all the 2016 built vessels that

 
 
Maritime Careers / Shipboard Positions Maritime Security Maritime Standards Naval Architecture Pod Propulsion Port Authority Salvage Ship Repair Ship Simulators Sonar
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0926 sec (11 req/sec)