QatarEnergy Enters Suriname Offshore Exploration

Source Company Press Release
Company QatarEnergy
Tags Country: Suriname, M&A: Asset Deal, Deals, Upstream: Upstream News
Date May 09, 2023

QatarEnergy has entered into two Production Sharing Contracts for Blocks 6 & 8 offshore the Republic of Suriname, following successful bids in these blocks, as previously announced in June 2021.

Pursuant to the signed agreements, QatarEnergy will own a 20% working interest in both blocks, where licensing of the new 3D seismic and associated exploration activities are planned. The remaining working interest is shared equally between TotalEnergies (Operator) and Staatsolie’s affiliate, Paradise Oil Company.

Commenting on the signing of the agreements, His Excellency Mr. Saad Sherida Al-Kaabi, the Minister of State for Energy Affairs, the President and CEO of QatarEnergy, said: “We are pleased to have concluded our entry into Blocks 6 and 8 along with our partners, TotalEnergies and Staatsolie, and look forward to commencing exploration in this promising basin.”

His Excellency Minister Al-Kaabi added: "I would like to take this opportunity to thank the Surinamese authorities, Staatsolie, and our strategic partner TotalEnergies for their excellent commitment and support that resulted in the signing of these agreements.”

The contracts, and other key agreements, were signed on behalf of QatarEnergy by Mr. Ali Abdulla Al-Mana, the Manager of International Upstream & Exploration during a ceremony hosted by Staatsolie, Suriname’s State Oil Company in Paramaribo, the capital of Suriname.

Located in the Southern part of offshore Suriname, the adjacent Blocks 6 and 8 lie immediately South of Block 58 in shallow waters, with depths ranging between 40 and 65 meters. 

Source: EvaluateEnergy® ©2024 EvaluateEnergy Ltd