Related Articles
The decision follows block 47 drilling results
Forward article link
Share PDF with colleagues

Tullow exits Suriname

The Anglo-Irish independent continues to refocus on key assets

Anglo-Irish independent Tullow Oil is exiting Suriname—where it holds operating stakes in blocks 47 and 54—as it continues to seek to rebuild its balance sheet and benefit from greater focus in its portfolio. Tullow and its partners decided not to pursue the next phase of development at block 47 following drilling results. The company owns 50pc of the block, while Petroandina Resources, a subsidiary of Argentina-headquartered Pluspetrol, holds 30pc and the Suriname subsidiary of Israel’s Ratio Petroleum, has 20pc. Tullow announced is “has also decided to exit block 54 at year-end”, which would leave it with no assets in Suriname. The company is working to reduce a significant debt burden



{{ error }}
{{ comment.comment.Name }} • {{ comment.timeAgo }}
{{ comment.comment.Text }}
Also in this section
US renewables sector faces near-term challenges
26 January 2022
Supply-chain issues and rising costs present short-term difficulties for sector poised for rapid growth
INOC sets the stage for oil uptick
26 January 2022
Control for Iraq’s new NOC of one of the country’s biggest oil assets may just be a first step in Baghdad’s strategy
TotalEnergies quits Myanmar
25 January 2022
The French major is transferring its stake in the Yadana gas field to its partners
Sign Up For Our Newsletter
Project Data
PE Store
Social Links
Social Feeds
Featured Video