Staatsolie Maatschappij Suriname N.V. signed Production Sharing Contracts (PSCs) for offshore Blocks 9 and 10. The contracts were signed with the operators PETRONAS Suriname E&P B.V. (Block 9) and Chevron Suriname Exploration Limited (Block 10).

For Block 9, PETRONAS Suriname E&P B.V. (PETRONAS Suriname) will serve as the operator, alongside partners Chevron Suriname Exploration Ltd, QatarEnergy International E&P LLC, and Paradise Oil Company (POC). The participation split for this block is as follows: PETRONAS Suriname (30%), Chevron (20%), QatarEnergy (20%), and POC (30%). In Block 10, Chevron is the operator, with PETRONAS Suriname, QatarEnergy, and POC as partners. The participation split for Block 10 is: Chevron (30%), PETRONAS Suriname (30%), QatarEnergy (30%), and POC (10%).

By signing these PSCs, the parties involved obtain the exclusive rights for exploration, development, and production in the respective blocks. The initial phase of the exploration period will last three years, during which the focus will be on acquiring and processing 3D seismic data to map the subsurface structure. This is essential for identifying potential oil and gas reservoirs.

“We will continue to attract investors to invest in our basin and use these revenues to make Suriname greener and more sustainable, which we call Suriname 3.0”, said minister Brunings.

The PSCs, which have a duration of thirty years, were signed by Annand Jagesar (Managing Director, Staatsolie), Danny Tan (Country Head, PETRONAS Suriname), Ali Al Mana (Manager Upstream International, QatarEnergy), Andrew Deighan (Americas Exploration Director, Chevron), and Rekha Bissumbhar (Director, POC). The signing took place in the presence of the Minister of Oil, Gas & Environment, Patrick Brunings, and the Minister of Natural Resources, David Abiamofo.

The blocks are located in the shallow water area approximately 50 km from the coast of Saramacca. Block 9 covers an area of 2,674 km², while Block 10 spans 2,972 km². The water depth in these areas reaches up to fifty meters.

Minister Abiamofo thanked the negotiating team and emphasized the government's support and the impact of this development on Suriname. “I reaffirm the government's continued support. The success of Blocks 9 and 10 will not only bring economic development, but will also create opportunities for capacity building, employment, and community development.”

With the signing of these contracts, Staatsolie continues to advance its strategy to responsibly develop Suriname’s offshore oil and gas potential in collaboration with reputable international partners. The company remains committed to securing agreements for the remaining open offshore acreage. These agreements mark an important step in further positioning Suriname within the international exploration and production sector.

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.

About Chevron

Chevron is one of the world’s leading integrated energy companies. We believe affordable, reliable and ever-cleaner energy is essential to enabling human progress. Chevron produces crude oil and natural gas; manufactures transportation fuels, lubricants, petrochemicals and additives; and develops technologies that enhance our business and the industry. We aim to grow our oil and gas business, lower the carbon intensity of our operations and grow new businesses in renewable fuels, carbon capture and offsets, hydrogen, power generation for data centers, and emerging technologies.