Suriname's state-owned Staatsolie executed production sharing contracts for Blocks 9 and 10 with Malaysia's Petronas and U.S. oil and gas giant Chevron as operators respectively.
Staatsolie Maatschappij Suriname NV, the state-owned entity of Suriname, signed the agreements with Petronas of Malaysia and Chevron Corp of the United States as operators for the respective blocks.
In Block 9, Petronas Suriname E&P BV serves as operator with a 30 percent interest. Chevron, through Suriname Exploration Ltd, holds 20 percent; QatarEnergy International E&P LLC owns 20 percent; and Paradise Oil Co NV, a Staatsolie subsidiary, retains 30 percent.
For Block 10, Chevron operates with a 30 percent stake. Petronas and QatarEnergy each hold 30 percent, while Paradise Oil Co NV has 10 percent.
Both blocks are situated in shallow waters approximately 50 kilometers from the Saramacca coast, with depths reaching up to 50 meters. Block 9 covers 2,674 square kilometers, and Block 10 spans 2,972 square kilometers. Each contract extends for 30 years.
Staatsolie explained: “By signing these PSCs, the parties involved obtain the exclusive rights for exploration, development and production in the respective blocks.” The initial three-year exploration phase will prioritize the acquisition and processing of 3D seismic data to assess subsurface formations.
QatarEnergy now participates in seven offshore blocks in Suriname. Petronas indicated that its total reaches eight blocks. The company described Blocks 9 and 10 as key additions in the Suriname-Guyana Basin, an area noted for hydrocarbon resources.
The blocks are positioned between established deepwater finds and onshore production sites.
Earlier in the year, on June 18, Petronas secured a production sharing contract for Block 66, which encompasses about 3,390 square kilometers in deeper waters adjacent to Block 52. That block includes the Fusaea, Roystonea, and Sloanea discoveries.
Petronas stated at the time: “Building on this strong foundation, Petronas is optimistic that the positive momentum and learnings from Block 52 will carry over into Block 66 as it continues to explore and unlock the hydrocarbon potential of the area.”
The Block 66 agreement requires drilling two exploration wells targeting prospects with substantial resource estimates and alignment with existing operations. Petronas operates Block 66 with an 80 percent interest, alongside Paradise Oil Co NV’s 20 percent.
Staatsolie noted then that roughly half of Suriname’s offshore area was under contract following the Block 66 signing.
Petronas has recorded four hydrocarbon discoveries in Block 52: Sloanea-1 in 2020, Roystonea-1 in 2023, and both Fusaea-1 and Sloanea-2 in 2024. Exxon Mobil Corp transferred its 50 percent stake in Block 52 to Petronas last year, leaving Petronas as the full owner.
These developments expand collaborative exploration efforts in Suriname’s shallow-water regions. The structured phases and seismic focus aim to delineate viable reservoirs efficiently. The partnerships leverage operator expertise and shared investment to advance resource evaluation across the basin.
