Hess Corporation is on the hunt for a new partner in Suriname’s Block 59 and has until July next year to secure one, according to the timeline set by state oil firm Staatsolie.
“Attracting a partner must be seen against the background of the enormous investments and risks that exploration in frontier deepwater areas such as Block 59 entails,” Staatsolie said.
Hess says exploration planned this year for Suriname blocks at Guyana border | OilNOW
Hess took control of the block after ExxonMobil and Equinor transferred their stakes last month. Equinor is shifting focus on its core areas like Norway, the U.S. Gulf of Mexico, and Brazil while increasing investments in renewable and low-carbon energy globally. ExxonMobil, which led the consortium, transferred the operation of the block to Hess in a non-financial transaction but retains its presence in Suriname with Block 52.
In 2018, Staatsolie had signed the production sharing contract for Block 59 with ExxonMobil, Hess and Equinor.
The asset is located in the extreme northwest offshore Suriname, sized at approximately 4,400 square kilometers. Block 59 lies in water depths of 2,000 meters to 3,600 meters. It adjoins Block 42 on its northern side and open acreage on the Guyana side.
