Exxon Mobil has announced that its subsidiary, Exxon Mobil Exploration and Production Suriname, has (along with partners Hess and Statoil) signed a production-sharing contract for Block 59 with Staatsolie Maatschappij Suriname, the national oil company of Suriname (www.corporate.exxonmobil.com/en).

The block adds significant acreage to Exxon Mobil’s operated portfolio in the Guyana-Suriname Basin.

Block 59 is in water depths ranging from nearly 2,000 to 3,600m, and is located about 305km from Suriname’s capital city, Paramaribo.

The block is 4,430 square miles and shares a maritime border with Guyana, where Exxon Mobil is the operator of three off-shore blocks, including the Liza field discovered in 2015.

Suriname is a new country for Exxon Mobil’s upstream business, although the company has other investments in South America.

The partners are preparing to begin exploration activities, including acquisition and analysis of seismic data.

Exxon Mobil and consortium partners Hess and Statoil each has a one-third interest in the block.