Hess sees ‘excellent potential’ at Suriname’s Block 42

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John Hess, CEO - Hess Corporation.

Hess corporation sees great potential in the offshore Suriname basin where preparations are underway to ramp up the search for hydrocarbons in the Dutch-speaking South American country.

Speaking on the company’s Q3 earnings call on October 30, CEO John Hess shared some of the plans that are being put in place for exploration drilling in Suriname.

So, in Block 42, we believe there is excellent potential there and a second exploration well is currently being planned for 2021. So, there will be nothing on Block 42 in 2020,” Hess told investors.

Kosmos is the operator on the block with Hess and Chevron each holding a 33.3% interest.

Hess said on Block 59, where US oil major ExxonMobil is the operator, a 2D seismic acquisition campaign is being completed. “Following that, the data will undergo processing. Then we will shoot a smaller, more focused 3D survey in and around any prospectivity that’s identified. And so, the first exploration well will likely be spud in 2022 on that block.”

The other partners on the block are Hess and Statoil with each holding a third stake.

As oil discoveries in neighbouring Guyana, where Hess has a 30% stake, continue to ramp up in what industry analysts have described as a ‘remarkable series of results’ since the world class Liza find in 2015, Suriname has been hoping to replicate this success.

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