May 19, 2020 / 6:22 AM / 10 days ago

Petronas says completed 50% farm-down in offshore interests in Suriname

KUALA LUMPUR, May 19 (Reuters) - Malaysia’s national oil firm Petroliam Nasional Bhd on Tuesday said it had completed a 50% farm-down of its participating interest in an offshore block in Suriname to a subsidiary of Exxon Mobil .

The deal was made between Petronas Suriname Exploration & Production B.V. and ExxonMobil Exploration and Production Suriname B.V. for Block 52 in the Suriname-Guyana basin which covers over 4,700 square km (1,800 square miles).

With the completion of the farm-down, Petronas will focus on drilling of a well in the third quarter of this year and acquiring new three-dimensional seismic data of the entire block, the company said in a statement.

Reporting by Joseph Sipalan; Editing by Christian Schmollinger

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