Petroliam Nasional Bhd has expanded its footprint offshore Suriname to eight exploration blocks with the signing of two new manufacturing sharing contracts (PSCs).
The South American nation’s state-owned Staatsolie Maatschappij Suriname NV (Staatsolie) executed the PSCs for Blocks 9 and 10 with Malaysia’s state-owned Petronas and United States oil and fuel big Chevron Corp as operators respectively.
Petronas will get 30 % in Block 9 as operator by Petronas Suriname E&P BV. Chevron holds 20 % by Suriname Exploration Ltd, state-owned QatarEnergy 20 % by QatarEnergy Worldwide E&P LLC and Staatsolie’s Paradise Oil Co NV (POC) 30 %, Staatsolie stated in a press launch.
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Chevron has secured operatorship of Block 10 with a 30 % curiosity. Petronas has 30 %. QatarEnergy 30 % and POC 10 %.
The 2 leases sit in shallow waters about 50 kilometers (31.07 miles) from the Saramacca coast. The water depth is as much as 50 meters (164.04 toes). Block 9 spans 2,674 sq. kilometers (1,032.44 sq miles) whereas Block 10 covers 2,972 sq km. Every license lasts 30 years, Staatsolie stated.
“By signing these PSCs, the events concerned acquire the unique rights for exploration, growth and manufacturing within the respective blocks”, Staatsolie stated. “The preliminary part of the exploration interval will final three years, throughout which the main focus will likely be on buying and processing 3D seismic knowledge to map the subsurface construction”.
QatarEnergy stated individually its presence in Suriname now includes seven offshore blocks.
Petronas stated in its personal assertion it now holds stakes in eight blocks offshore Suriname. Block 9 and 10 “mark a big milestone in Petronas’ continued enlargement within the Suriname-Guyana Basin, a area acknowledged globally for its hydrocarbon potential”.
Petronas famous each blocks are “strategically situated between confirmed deepwater discoveries and onshore producing fields”.
Earlier this 12 months Petronas signed a PSC for Block 66, which covers about 3,390 sq. km in deep waters subsequent to Block 52, which accommodates the Fusaea, Roystonea and Sloanea discoveries.
“Constructing on this sturdy basis, Petronas is optimistic that the constructive momentum and learnings from Block 52 will carry over into Block 66 because it continues to discover and unlock the hydrocarbon potential of the world”, Petronas stated June 18.
“The PSC features a agency dedication to drill two exploration wells, focusing on drill-ready prospects that provide vital useful resource potential and are strategically positioned to unlock synergies with Petronas’ present operations in Suriname”.
Petronas operates Block 66 with an 80 % stake. POC owns 20 %.
Staatsolie stated individually then, “With the signing of the [Block 66] PSC, roughly fifty % of Suriname’s offshore space is now below contract”.
Petronas has made 4 oil and fuel discoveries in Suriname, all in Block 52: Sloanea-1 in 2020, Roystonea-1 in 2023 and Fusaea-1 and Sloanea-2 in 2024.
Exxon Mobil Corp exited Block 52 final 12 months with the sale of its 50 % stake to Petronas, now the only proprietor.
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