Offshore staff
PARAMIBO, Suriname — The Surinamese state oil and gas company Staatsolie has signed production sharing contracts (PSCs) for three offshore blocks offered under the Demerara Bid Round, which closed this May.
Signing followed a series of negotiations with the designated partners.
Petronas signed PSCs for two concessions in the Demerara area of the Guyana-Suriname Basin. The company has a 100% operated interest in Block 63, covering 5,425 sq km 200 km offshore in water depths of about 1,700 m.
In Block 64 (6,262 sq km and 250 km from the shore in water depths of 1,300 m), the company will partner with QatarEnergy (both 30%) and operator TotalEnergies (40%).
Shell subsidiary BG International will operate shallower-water Block 65 (60%), in partnership with QatarEnergy (40%).
An exploration well is due to be drilled in both Block 64 and Block 65 during the initial three-year exploration phases, while in Block 63 the first exploration well will take place in the second exploration period.
If commercial oil or gas discoveries follow, Staatsolie has the right to back into up to 20% from the start of the development period. All three PSCs are valid for 30 years.
12.18.2023
