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.