QatarEnergy adds to interests offshore Suriname with production sharing contract signings

QatarEnergy has signed two 30-year production sharing contracts (PSC) with Staatsolie Maatschappij Suriname NV for Blocks 9 and 10 offshore Suriname, having been awarded the blocks as part of a consortium during the POST SHO2 bid round held in June.

The blocks lie in the shallow water area about 50 km from the coast of Saramacca, Staatsolie said in a separate release Nov. 6. Block 9 covers an area of 2,674 sq km, while Block 10 spans 2,972 sq km. 

In its release, Staatsolie said the initial phase of the exploration period will last 3 years, during which the focus will be on acquiring and processing 3D seismic data to map the subsurface structure.

QatarEnergy will hold a 20% working interest in Block 9, with partners Petronas Suriname E&P BV (operator, 30%), Chevron (20%), and Staatsolie affiliate Paradise Oil Co. (POC) (30%).

QatarEnergy will hold a 30% working interest in Block 10, with partners Chevron (operator, 30%), Petronas Suriname (30%), and POC (10%).

With the signings, QatarEnergy now holds interests in seven blocks offshore Suriname.