Suriname: TotalEnergies Expands its Presence with a New Offshore Exploration License

Source Company Press Release
Company TotalEnergies SE, Petronas, QatarEnergy, Staatsolie Maatschappij Suriname
Tags Country: Suriname, M&A: Asset Deal, Deals, Licensing Round, Upstream: Drilling Activity, Upstream News
Date December 15, 2023

TotalEnergies and its partners QatarEnergy and  Petronas have signed a production sharing contract for Block 64 with  Staatsolie Maatschappij Suriname (Staatsolie), the State-owned oil company of Suriname.

Block 64 was awarded to TotalEnergies and its partners in the Bid Round 2022-2023 organized by the authorities of Suriname. TotalEnergies will operate the block with a 40% interest, alongside QatarEnergy (30%) and  Petronas (30%).

Block 64 is a large 6,262 km2 block located about 250 km from shore.

“TotalEnergies is delighted to expand further its presence in offshore Suriname, together with two strategic partners. This new block fits well with our strategy to focus our exploration activity in exploring for material low cost and low emission resources in core areas for the Company”, said Kevin McLachlan, Senior Vice President Exploration of TotalEnergies.

In Suriname, TotalEnergies operates Block 58 (50%) where five discoveries have been made and where development studies are in progress, with the objective of sanctioning a 200,000 b/d oil project by end 2024. In May 2023, TotalEnergies entered exploration blocks 6 and 8 as operator (40%) alongside QatarEnergy (20%) and Paradise Oil Company (POC), a subsidiary of the national company Staatsolie (40%).

Source: EvaluateEnergy® ©2024 EvaluateEnergy Ltd