PetroChina, Staatsolie sign PSC for blocks offshore Suriname

A subsidiary of China National Petroleum signed a production sharing contract for Blocks 14 and 15 offshore Suriname.
Sept. 16, 2024

PetroChina Investment Suriname BV, a subsidiary of China National Petroleum Corp., signed a production sharing contract on Blocks 14 and 15 in Suriname with state-owned Staatsolie Maatschappij Suriname.

The blocks, part of the Suriname Shallow Offshore 2 Bid Round 2023-2024, lie in the eastern part of the Suriname-Guyana basin and border Block 52, where oil and gas has been discovered. Block 14 lies in 50-75 m of water and Block 15 lies in 75-150 m of water.

PetroChina has obtained exploration, development, and production rights in Block 14 and Block 15. Staatsolie holds 30% participation interest through its subsidiary Paradise Oil Co. NV (POC). The two companies also will sign a joint operating agreement regarding exploration, development, and production of oil and gas, and the distribution of the costs, risks, and revenues of the project.

About the Author

Alex Procyk

Upstream Editor

Alex Procyk is Upstream Editor at Oil & Gas Journal. He has also served as a principal technical professional at Halliburton and as a completion engineer at ConocoPhillips. He holds a BS in chemistry (1987) from Kent State University and a PhD in chemistry (1992) from Carnegie Mellon University. He is a member of the Society of Petroleum Engineers (SPE).

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