Petroliam Nasional Bhd (Petronas)

The deal is for Block 52, which covers over 4,700 sq km (1,800 sq miles) in the Suriname-Guyana Basin.

Repsol will still hold a 51% stake in the block after the deal.

Offer is the latest in a series to solicit interest.

The most heavily sought-after areas in the auction directly border Brazil’s so-called presalt area, a zone in which billions of…

As IOCs exit the area, regional operators look to stem the tide of declining production.