Germany’s RWE Dea has signed a farm-in agreement with Petronas Suriname E&P BV to acquire a 40% interest in Block 52 off the coast of Suriname in northern Latin America.

Under the farm-in agreement, which is still subject to formal completion, RWE will gain its stake in a licence area covering 4,743 sq km in the Guyana- Suriname Basin, around 120 km offshore. Water depths in the licence range from 100-1,000 m (33-3,228 ft).

Petronas Suriname (60%) is the operator of the exploration area, which RWE says has high-impact potential in Upper Cretaceous strata. The planned work pro- gramme for Block 52 comprises a 3D seismic survey and the drilling of one exploration well within the next three years.

RWE Dea, which also has a stake in licence NCMA2 offshore Trinidad & Tobago, where an exploration well is planned for the second half of 2013, is also evaluating participation in current bid rounds in Suriname and Trinidad & Tobago.