Hess seeks exploration partners for former ExxonMobil-operated Block 59 offshore Suriname
(WO) – According to Staatsolie, an oil and gas company focused in Suriname, Hess Corporation (Hess) is seeking partners for Block 59 in offshore Suriname, following the exit of both ExxonMobil and Equinor in July 2024. ExxonMobil led the partnership, with each company holding 1/3 ownership of the offshore block.
Hess is looking to continue exploration on Block 59 and has until July 2025 to find a partner and begin operations, Staatsolie said in an online statement.
Staatsolie grants exploration, development and production rights to a foreign oil and gas company through a production sharing contract (PSC). The PSC allows parties to find partners in a block or transfer their interests to another party.
In 2018, Staatsolie signed the PSC for Block 59 with ExxonMobil, Hess and Equinor. This block the extreme northwest offshore Suriname, is approximately 4,400 km2 in size, and lies in water depths of 2,000 m to 3,600 m.
The company believes that Block 59 has “enormous investment and risk” opportunities, as the area sits in close-proximity to other highly-anticipated deepwater finds and in part of the greater Guyana-Surniame basin. The offshore region is quickly becoming the most-watched oil and gas development, as it boasts billions of barrels of recoverable resources.
