Cairn in talks for offshore Suriname PSA
Cairn Energy is negotiating a production-sharing agreement with Staatsolie for a license in the Demerara plateau offshore Suriname.
Terms will include acquisition of 2D seismic with contingent 3D seismic activity. Cairn views this as a significant future drilling opportunity. The license, which covers an area of around 13,000 sq km (5,019 sq mi), has a conjugate margin to Senegal where Cairn has proprietary data.
Offshore Mexico, the company secured two stakes in two new licenses last year in the Gulf of Mexico and the shallow-water Sureste basin.
The company is partnering with Eni and Citla Energy, a Mexican-focused exploration specialist. Pending approvals, Cairn aims to drill three wells in 2019 and a fourth in 2020 on blocks 7 and 9 targeting potentially more than 1 Bboe.
It plans to submit an exploration plan for its operated block 9 to Mexico’s government and assuming approval, the license’s four-year period will begin.