Suriname's state oil firm signs production-sharing deal with Columbus

PARAMARIBO - Suriname’s state-owned oil firm said on Friday it had signed a production-sharing agreement for the onshore Weg Naar Zee (WNZ) block with Britain-based oil and gas exploration company Columbus Energy Resources.
 
In a statement, the company, Staatsolie Maatschappij Suriname, said the two firms had signed a 30-year agreement which would carry out a “minimum exploration program” in the 90,100-hectare block during the first seven years.
 
“For Columbus, WNZ is a low-cost, low-risk entry into a block with an estimated 24 million barrels in a proven hydrocarbon province,” Columbus Executive Chairman Leo Koot said in a separate news release.
 
Oil discoveries in neighboring Guyana have led to optimism in Suriname that the same formations continue across the border into the former Dutch colony, which has a population under 600,000.
 
Staatsolie has already signed production-sharing agreements with Exxon Mobil Corp and Tullow Oil Plc.
 
Suriname has not made any commercially viable offshore oil discoveries so far. Exxon has discovered more than 5 billion barrels of oil in Guyana and expects to start producing next year.

Hof maakt oriƫntatiepunten bij straftoemeting bekend

Het Gemeenschappelijk Hof van Justitie van Aruba, Curaçao, Sint Maarten en van Bonaire, Sint Eustatius en Saba heeft besloten om zijn reeds bestaande, interne oriëntatiepunten voor straftoemeting in strafzaken te publiceren.

St. Maarten students to participate in International Moot Court Competition

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