Malaysia’s national oil firm Petroliam Nasional Bhd on May 19 said it had completed a 50% farm-down of its participating interest in an offshore block in Suriname to a subsidiary of Exxon Mobil Corp.
The deal was made between Petronas Suriname Exploration & Production B.V. and ExxonMobil Exploration and Production Suriname B.V. for Block 52, which covers over 4,700 sq km (1,800 sq miles), in the Suriname-Guyana Basin.
With the completion of the farm-down, Petronas will focus on drilling a well in the third quarter of this year and acquiring new 3D seismic data of the entire block, the company said in a statement.
On average, the 13-member OPEC pumped 24.77 million barrels per day (MMbbl/d) this month, the survey found, down 5.91 MMbbl/d from April’s revised figure.
OPEC+ decided in April to cut output by a record 9.7 million barrels per day, or about 10% of global output.
BP and Exxon Mobil produce massive amounts of oil in Alaska and have discovered huge gas resources that are stranded in the North Slope, which the proposed LNG project would allow that gas to access markets around the world.