American energy giant ExxonMobil and Malaysian oil and gas company Petronas announced a new hydrocarbon discovery offshore Suriname, ExxonMobil said in a statement.

“Our first discovery in Suriname extends ExxonMobil’s leading position in South America, building on our successful investments in Guyana,” said Mike Cousins, senior vice president of exploration and new ventures at ExxonMobil.

Operator Petronas will drill the Sloanea-1 exploration well of Block 52 offshore Suriname to a total depth of approximately 15,682 feet (4,780 meters).

The company said Block 52, located approximately 120 kilometers offshore north of Suriname’s capital city, Paramaribo, covers an area of 1.2 million acres (4,749 square kilometers).

The discovery is currently being evaluated to determine its resource potential, it added.