On 17 June 2025, Staatsolie Maatschappij Suriname N.V. signed a production sharing contract (PSC) with PETRONAS Suriname E&P B.V. (PSEPBV) and Paradise Oil Company N.V. (POC) for Block 66 in Suriname's deep offshore.

PETRONAS, through its subsidiary PSEPBV, acquires the exploration, development and production rights in Block 66 with the signing of the PSC. The company has participating interest of eighty percent and thus the operator in the Block 66 partnership with Staatsolie. Through its subsidiary POC, Staatsolie has participating interest of a twenty percent. PETRONAS has committed to drilling two exploration wells located in promising parts of the block during the first phase of the exploration period.

The PSC was signed by Annand Jagesar, Managing Director of Staatsolie, Zamri Baseri, Country Head of PETRONAS Suriname, and Rekha Bissumbhar, Director of POC. Mohd Redhani Abdul Rahman, Vice President of International Assets of Upstream PETRONAS, attended the signing. The PSC signing strengthens Staatsolie's partnership with PETRONAS to jointly develop Suriname's oil and gas potential.

Block 66 is approximately 3,390 square kilometers in size and located in the deep offshore with water depths ranging from 1,000 to 2,200 meters. The block is in the western part of the Suriname-Guyana Basin and borders Block 52 to the south and Block 58 and Block 53 to the west; blocks where oil and gas discoveries have been made. PETRONAS is now active in Blocks 48, 52, 53, 63, 64 and 66 and has so far made four oil and gas discoveries, with the discoveries in Block 52 undergoing intensive evaluation. 
 
With the signing of the PSC, approximately fifty percent of Suriname's offshore area is now under contract. This aligns with Staatsolie's strategy to develop Suriname’s oil and gas potential with reputable international partners.

About Staatsolie

Staatsolie is one of the leading companies in our country Suriname. Staatsolie is located in this hidden treasure of South America, where we passionately contribute to the advancement of our country. We do so by developing exploration activities, producing and refining crude oil to high-quality products, and providing local and international markets with these products.

About Petronas

Petroliam Nasional Berhad (PETRONAS) is a global energy company committed to producing and delivering energy and solutions needed to advance society responsibly and sustainably.

As Malaysia’s national oil and gas company, we safeguard and manage the nation’s hydrocarbon resources. Our aim is to maximise value through our integrated business model to meet the energy needs of the nation and our customers across the globe. Our portfolio includes oil and gas, petrochemicals, petroleum products, as well as a range of cleaner energy solutions.

Ensuring sustainable practices across our operations is important to how we conduct our business. Our goal is to achieve net zero carbon emissions by 2050, and we strive to be a valuable partner to our stakeholders in transitioning to a lower carbon energy future in a just and responsible manner.