Hess Corp. is in search of a new partner or partners for Suriname’s offshore Block 59 after both Exxon Mobil and Norway’s Equinor exited their respective one-third interests last month.
New York City-based Hess is now the lone company in the block.
Hess confirmed with Hart Energy, in an Aug. 22 email, that it was seeking partners. But Hess didn’t provide additional details about the process.
State-owned Staatsolie Maatschappij Suriname NV said in an Aug. 16 press release that Hess has until July 2025 to attract a partner for Block 59 and then enter the next phase in the exploration period.
Staatsolie said in its statement that Hess wants to continue exploring Block 59.
The deep-water Block 59 is in water depths ranging from 2,000 m to 3,600 m and is situated some 190 miles offshore Suriname’s capital city, Paramaribo. Block 59 covers 2.8 million acres, or 4,430 square miles, and shares a maritime border with Guyana.
Exxon acquired its interest in Block 59 in 2017. The Texas-based company was the operator of Block 59 until its exit in July 2024.
“We fulfilled all our work commitments for [Block 59] and continue to progress the evaluation of our Suriname exploration acreage,” Exxon told Hart in an email on Aug. 22.
Exxon continues to participate in Block 52 offshore Suriname.
Equinor's decision to exit Suriname comes as part of the Norwegian company’s strategy to produce oil and gas in only a few core areas and to invest more in renewable energy, Staatsolie said.
The attractiveness of offshore Suriname is highlighted by numerous finds on the other side of the South American country’s maritime border with Guyana.
There, Exxon Mobil and its partners Hess and CNOOC have discovered over 11 Bboe of estimated gross recoverable resources in Guyana’s prolific Stabroek Block. The Exxon-led consortium started producing oil from Stabroek in Dec. 2019. To date, three developments in Stabroek with associated FPSOs are producing over 600,000 bbl/d. Exxon and Hess have reiterated there is potential for up to 10 FPSOs in the block.
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