RWE finishes survey of Suriname reserve potential

Dec. 10, 2013 at 7:54 AM   |   0 comments

HAMBURG, Germany, Dec. 10 (UPI) -- An executive at German energy company RWE said the completion of a seismic survey in Suriname opens the door to a potential future exploration campaign.

The German company said it completed a seismic survey of License Block 52 off the coast of Suriname, five months after it entered the region alongside Malaysian oil and gas company Petronas.

"With the aid of this new data as well as already existing vintage 3D data, we can now prepare a meaningful image of potential hydrocarbon reservoirs across the entire license area," Hans-Hermann Ecke, a vice president of new ventures for the company, said in a statement Monday.

The company said it expects the results of the survey of nearly 700 square miles to be ready for interpretation during the second quarter of 2014. RWE said Block 52 lies in a "favorite position in the highly prospective Guyana-Suriname basin" off the coast of the South American country.

The company offered no estimate of the reserve potential for the country. The CIA World Factbook in 2012 estimated Suriname had 72 million barrels of proved crude oil reserves.

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