Surinamese authorities and state-owned Staatsolie awarded production sharing contracts for bids won during a bid round held in June 2023.
TotalEnergies SE signed a production sharing agreement for Block 64 offshore Suriname. TotalEnergies will operate the block with 40% interest. Partners are QatarEnergy (30%) and Petronas Carigali (30%).
Separately, Shell plc signed on as operator of Block 65 with 60% interest in a partnership with QatarEnergy (40%).
Petronas signed a contract for Block 63.
The blocks lie in the Demerara area, in the central northern part of Surinamese waters, about 160-355 km offshore in water depths of 150-3,000 m.
The exploration period consists of three phases and will last 7 years, Staatsolie said in a release Dec. 15. An exploration well will be drilled in both Block 64 and Block 65 in the first phase, which will last 3 years. In Block 63, the first exploration well follows in the second phase of the exploration period. In the event of an oil or gas discovery that is declared commercial, Staatsolie has the right to participate in all three blocks for a maximum of 20% interest from the development period.
In November, authorities in the country launched Shallow Offshore 2 Bid Round (SHO2) 2023-2024 for 11 shallow water blocks offshore Suriname covering a total area of 34,520 sq km, including some areas never previously licensed. The data room opens Dec. 18, 2023, with bid awards expected in June 2024.
