Exxon adds 2.8 million acres offshore

Exxon Mobil has added 2.8 million acres to its portfolio in the South American Guyana-Suriname Basin, off the coast of Surinames capital, Paramaribo.

The company announced on Thursday it signed a production-sharing contract with the national oil company of Suriname to develop block 59, in water as deep as 12,000 feet.

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It is Exxons first foray into Suriname waters. The Irving-based oil giant, however, operates three neighboring blocks off the coast of Guyana, including the huge Liza field Exxon discovered in 2015.

Steve Greenlee, president of ExxonMobil Exploration Company, praised the deal and said the company looks forward to evaluating its potential.

Exxon is partnering with New York exploration and production company Hess Corp. and the Norwegian oil major Statoil in the deal. Each hold a third of the interest in the block, but Exxon is operating the endeavor.

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Exxon adds 2.8 million acres offshore - Houston Chronicle - Chron.com