Statoil entered Suriname when the group acquired a 30 % share in Tullow Oil’s Block 47 exploration licence in the Guiana basin in November 2011. The agreement is subject of approval from Staatsolie Maatschappij Suriname, the state oil company of Suriname.
The licence is located some 270 km north of mainland Suriname with a water depth of between 1,300 and 3,000 metres. A recent offshore discovery nearby French Guiana is a promising indication of the potential in the region.
The partnership is planning to acquire and interpret seismic data in order to mature the acreage further.
The farm-in in Suriname marks Statoil’s first entry into the country. Statoil holds assets in neighbouring Brazil as well as in Venezuela.
Official name: Republic of Suriname
Population: ca 500 000 (est. July 2011)
Government: Constitutional democracy
Language: Dutch (official), English, Sranang Tongo, Caribean Hindustani, Javanese
Currency: Suriname dollars (SRD)