Suriname: Tullow takes Inpex Block 31 farmout

A unit of Tullow Oil PLC will take a 30% participating interest in Block 31 on the shelf offshore Suriname from Inpex Corp.'s Teikoku Oil (Suriname) Co. Ltd., subject to approval by Staatsolie.

The frontier block covers 5,560 sq km in 30-90 m of water 90 km north of Paramaribo. Inpex acquired the block in 2007, shot 3D seismic, and drilled an exploratory well in 2008. Another 3D survey is under way, and another wildcat is planned for 2015.

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