Petronas completes 50% farm-down deal

Subsequent to the farm-down, PSEPBV as the operator of Block 52 holds 50% equity, while ExxonMobil holds the remaining 50%.

KUALA LUMPUR: Petronas through its subsidiary, Petronas Suriname Exploration & Production B.V. (PSEPBV), has completed the farm-down of 50% of its participating interest to ExxonMobil Exploration and Production Suriname BV (ExxonMobil) from a 100% participating interest in Block 52, offshore Suriname.

Block 52 is located north of the coast of Paramaribo, Suriname’s capital city, and is situated in the prospective Suriname-Guyana basin where several major hydrocarbon discoveries were made recently. Block 52 covers an area of 4,749 km² with water depths ranging from 5m0 to 1,100m.