In July 2024 Norway’s majority state-owned Equinor and Texas-based ExxonMobil withdrew from the production sharing contract they signed July 2017 with New York City-based Hess. After 2D and 3D research that involved 6,000 kilometers (3,728.23 miles) and 9,000 square kilometers (3,474.92 square miles) respectively, ExxonMobil and Equinor deemed the risk for drilling an exploration well too high and transferred their stakes to Hess, according to Staatsolie Maatschappij Suriname NV.
The American international oil and gas company Hess Corporation (Hess) is looking for partner(s) for Block 59 in offshore Suriname. Hess is now the only party in the block after ExxonMobil (USA) and Equinor (Norway) transferred their respective interests to it in July 2024.
Chevron’s biggest rival, ExxonMobil, however, has arbitration proceedings in Guyana’s Stabroek oil block that may prevent merger
Chinese offshore oil and gas major said it had filed an arbitration claim to establish a right over Hess’ stake in the giant Guyana oilfield Stabroek in the event of the U.S. firm’s sale to Chevron.
Chevron Corp unveiled plans to buy Hess Corp on Monday. Executives from the both oil giants discussed details of the deal shortly after it was announced.