ExxonMobil Withdraws from Suriname's Offshore Block 52

ExxonMobil has exited its 50% stake in Suriname's offshore block 52. The state-run oil company Staatsolie announced that Petronas Suriname E&P will assume control as the operator. This decision is part of ExxonMobil's strategic reassessment of its global asset holdings.

In a significant development, Suriname's state-owned oil company Staatsolie revealed that ExxonMobil is stepping back from its offshore block 52.

The announcement on Wednesday cited that Petronas Suriname E&P will now manage the 50% stake previously held by ExxonMobil, marking a notable shift in the region's energy landscape.

Staatsolie clarified that this move is aligned with ExxonMobil's broader strategy of evaluating its global asset portfolio, hinting at strategic realignments in the multinational oil company's operations.

(With inputs from agencies.)