2009-08-19-2007-07-01-2007-07-01

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0MM
Description

Production-sharing contract

Murphy Suriname Oil Co. Ltd., a subsidiary of Murphy Oil Corp., El Dorado, Ark., (NYSE: MUR) has entered a production-sharing contract for Block 37 offshore Suriname with state-owned Staatsolie Maatshappij Suriname NV. The block covers approximately 2.1 million acres. The contract covers an initial six-year exploration phase and includes commitments to drill two wells and acquire 3-D seismic. Murphy is operator and has an 80% interest. Murphy Oil president and chief executive Claiborne P. Deming says, "With multiple play types, offshore Suriname has a lot of attraction. Our new 3-D seismic survey planned for later this year will better define targets for our subsequent drilling program which will likely commence in 2008."