Norway's Statoil has bought a stake in an exploration block offshore Suriname from Tullow Oil, adding to the list of international oil companies entering what industry sources say could be a major new production province in South America.
Statoil has bought a 30% interest in block 47, in which Tullow will retain a 70% stake.
Tullow has bought exploration rights to large swathes of territory offshore French Guiana, Suriname and Guyana, hoping to replicate its success in finding big fields offshore West Africa.
The company believes the regions have shared geology stemming from when Africa and South America were still connected many millions of years ago.
In September, the theory was boosted when Tullow announced a discovery offshore French Guiana. Royal Dutch Shell and France's Total had previously bought stakes in that project from Tullow.
