The development stages:Exploration drilling/2013-04.The project involves exploring for oil in block 52, which covers 4,749 square kilometers offshore Suriname in water depth of 50-200m. The block is owned by the country's state oil company Staatsolie, which signed a production sharing contract with Malaysia's state-run Petronas in April 2013 for exploration and possible production from this block. Petronas and German firm Deutsche Erdoel AG, which signed a farm-in agreement in November 2013, are carrying out exploration activities on the block. Deutsche Erdoel has a 40% stake with operator Petronas holding the remaining 60%.