Founded in 1985, Tullow Oil is a London-headquartered oil and gas exploration and production company and its assets portfolio includes interests in 122 licenses throughout 22 countries. In South America, Tullow is developing projects in Suriname, French Guiana, Guyana, and Uruguay. In Suriname, it owns a 30% stake in offshore block 31, a 30% interest in block 54 and a 100% of block 47, which it operates. In 2012, the company won a license on block 15 for a period of 30 years and under a shared production agreement, it made a commitment to acquire and process 3D seismic data. The offshore block is located in Pelotas basin in water depths of about 2,000-3,000, and extends over 8,000km2. Its other assets in the region are the Guyane Maritime block, in French Guiana, where it holds a 27.5% stake; and in Guyana ,the Kanuku block (30% stake, operated by Repsol), and the Orinduik block (60% stake, operated by Tullow).