Following the signing of two new production sharing contracts (PSC) for two blocks offshore Suriname, QatarEnergy will hold a 20% working interest in Block 9, with its partners, Petronas Suriname (operator with 30%), Chevron (20%), and Staatsolie’s affiliate, Paradise Oil Company (POC) (30%).
On the other hand, QatarEnergy will also hold a 30% working interest in Block 10, with its partners, Chevron (operator with 30%), Petronas Suriname (30%), and POC (10%). These PSCs represent expansion in the Suriname-Guyana Basin, a region recognized for its hydrocarbon potential.
Commenting on this, Saad Sherida Al-Kaabi, Qatar’s Minister of State for Energy Affairs, President and CEO of QatarEnergy, highlighted: “We are pleased at the conclusion of these two new production sharing agreements, which will increase our Suriname footprint to seven offshore blocks, allowing us to further explore its promising basins.
“We are also pleased to cooperate with our partners Chevron, PETRONAS Suriname and Staatsolie, and we look forward to working with them in these blocks. I would like to take this opportunity to thank the Surinamese authorities, and our partners for the excellent collaboration and support that have resulted in the signing of these agreements.”
The two blocks span a combined area of approximately 5,456 square kilometers, strategically located between proven deepwater discoveries and onshore producing fields. The PSCs entail provisions to support local workforce participation and social investment.
Faisal Bakar, Petronas’ Vice President of Exploration, emphasized: “PETRONAS is focused on growing our presence in Suriname and we thank Staatsolie and the government of the Republic of Suriname for their continued support. Building on our recent success and our aspiration to grow in the country, we are preparing for upcoming exploration activities.
“The expansion into Blocks 9 and 10 reflects our confidence in Suriname’s offshore potential and our commitment to creating sustainable value for the nation and its people.”
This comes after QatarEnergy inked production sharing contracts for two other blocks offshore Suriname. Recently, the firm also took steps to obtain an interest in Eni’s block offshore Egypt.
