TotalEnergies, QatarEnergy win new Suriname offshore block
PARIS, December 17, 2023
Global multi-energy company TotalEnergies has announced that it has secured a bid for operation of a large energy block spread over 6,262 sq km in Suriname, a small country on the northeastern coast of South America.
As per the deal inked by TotalEnergies with state-owned oil company Staatsolie Maatschappij Suriname (Staatsolie), the Block 64, located 250 km offshore, will be operated in partnership with QatarEnergy and Malaysian oil group Petronas.
In Suriname, TotalEnergies already operates Block 58 (with a 50% stake) 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, the French energy giant had entered into a deal for exploration of blocks 6 and 8 as operator (40%) alongside QatarEnergy (20%) and Paradise Oil Company (POC), a subsidiary of the national company Staatsolie (40%).
On the new Block 64, Kevin McLachlan, Senior Vice President Exploration, said it was awarded to TotalEnergies and 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%), stated McLachlan.
"TotalEnergies is delighted to expand further its presence in offshore Suriname, together with two strategic partners," he noted.
"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," he added.-TradeArabia News Service
