PARAMARIBO, July 8 (Reuters) - U.S. oil producer Hess

Corp ( HES ) has decided to withdraw from Suriname's offshore

Block 59, the South American nation's state oil firm Staatsolie

said on Tuesday, adding the block would now return to

Staatsolie.

"Hess has fulfilled its minimum work obligations and decided

not to proceed to the next phase of the exploration period

ending July 8, 2025," Staatsolie said in a statement.

Hess did not immediately respond to a Reuters request

for comment.

ExxonMobil ( XOM ) and Equinor ( EQNR ) had a year

earlier exited from the block feeling there was too much risk

involved in drilling an exploration well, and Hess had since

then been unable to find new partners to explore the block, it

added.

Block 59's sea depth ranges between 2,700 and 3,500

meters, Staatsolie said, and Hess' former partners had left

after collecting seismic data necessary for developing a viable

oil field in the far north-western part of Suriname's marine

area.

Around half of Suriname's sea area is currently subject

to production sharing contracts with various international oil

and gas companies, Staatsolie said, adding the returned area

would be taken account in its strategy to have as much of the

sea area as possible under contract with international parties.