ExxonMobil Exploration & Production Suriname, an affiliate of ExxonMobil, has announced its withdrawal from Block 52 offshore Suriname.

This move is part of an ongoing assessment of its global portfolio by ExxonMobil, which has formally notified Staatsolie, a vertically integrated state-owned commercial entity, of its exit from the block.

The company will transfer its 50% working interest to the block operator, Petronas Suriname E&P, which now holds a 100% stake in the block. Operations are expected to continue as usual.

Block 52 is located north of the Surinamese coast and covers an area of approximately 4,749km². A gas discovery was made in this block in 2020 with the Sloanea-1 exploration well.

Petronas is further exploring this discovery with the drilling of the Sloanea-2 appraisal well earlier this year. A letter of agreement was signed with the contractor in March.

Staatsolie expects Petronas to continue activities in Block 52 without interruption, maintaining the partnership's momentum.

ExxonMobil recently agreed to divest its conventional oil drilling assets in the Permian Basin to Hilcorp Energy for approximately $1bn.

The transaction involves conventional vertical wells, differing from the horizontal wells used for shale extraction.

Meanwhile, Petronas recently commissioned Shearwater Geoservices to conduct a 3D seismic survey in Suriname. The project, covering 6,000km^², will begin in the fourth quarter of 2024 and last three months, utilising the Amazon Warrior vessel.

This assignment continues Shearwater’s collaboration with Petronas in the Block 52 region.

Additionally, the company via its division Malaysia Petroleum Management, has recently signed two strategic memorandums of understanding focused on enhancing technology and operational efficiency in Malaysia’s exploration and production sector.