Cairn in talks for offshore Suriname PSA

Cairn Energy is negotiating a production-sharing agreement with Staatsolie for a licence 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 licence, which covers an area of around 13,000 square kilometres (5,019 square miles), has a conjugate margin to Senegal where Cairn has proprietary data.

Offshore Mexico, the company secured two stakes in two new licences 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 licence’s four-year period will begin.

Source: Offshore Magazine