The decision follows block 47 drilling results
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 and
Also in this section
20 January 2025
The country’s oil and gas giant, KazMunayGas, is pushing ahead with a series of significant international partnerships
17 January 2025
Supply glut or supply deficit are both plausible outlooks, with tariffs and sanctions among the key risks that could swing the pendulum
17 January 2025
European Commission is on its way to meeting clean energy goals, but energy security concerns and higher costs may give it second thoughts
17 January 2025
The CEO of QatarEnergy has highlighted the potential impact a new EU directive could have on energy exports to the continent
