QatarEnergy Signs Production Sharing Contracts for Suriname Offshore Blocks

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

QatarEnergy has signed two Production Sharing Contracts (PSCs) for Suriname’s offshore Blocks 64 and 65, which it had won during a bid round held in June 2023.

Pursuant to the signed contracts, QatarEnergy will own a 30% working interest in block 64, while TotalEnergies (the operator) will own 40%, and  Petronas will own 30%.  QatarEnergy will also own a 40% share in Block 65, while Shell (the operator) will own 60%.

His Excellency Mr. Saad Sherida Al-Kaabi, the Minister of State for Energy Affairs, the President and CEO of QatarEnergy, expressed delight at the signing and said: “We are delighted to sign the production sharing contracts for blocks 64 and 65, which will increase our working footprint in the promising basins of Suriname. We are also pleased to work with TotalEnergies, Petronas, and Shell in these blocks, and we look forward to achieving good results for the benefit of all parties involved.”

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

Both blocks 64 and 65 are located about 200-250 km offshore Suriname in water depths of about 1,300-1,700 meters.

Source: EvaluateEnergy® ©2024 EvaluateEnergy Ltd