Chevron farms out 20% interest in block offshore Suriname

Chevron Corp. has agreed to farm out to QatarEnergy a 20% interest in a production sharing contract for block 5 offshore Suriname.

Chevron, as operator, will retain a 40% interest, while Paradise Oil Co., an affiliate of Suriname national oil company Staatsolie, will own the remaining 40%.

Block 5 lies offshore Suriname in shallow water depths of about 30-45 m. The license is currently proceeding to its second exploration phase with a commitment to drill an exploration well.