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Staatsolie, Suriname’s state-owned oil and energy company, has confirmed that Hess, the US-based oil and gas company, has decided to relinquish its interest in Block 59 offshore Suriname.
“Hess has fulfilled its minimum work obligations and decided not to proceed to the next phase of the exploration period ending July 8, 2025,” Staatsolie said in a statement, adding that the block will become available for new contracts.
The decision by Hess follows the withdrawal of its partners, Statoil Suriname B59 (now Equinor Suriname B59) and ExxonMobil Exploration and Production Suriname that in July 2024 transferred their stakes to Hess, making it the sole participant in the block.
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