Staatsolie Maatschappij Suriname N.V. (Staatsolie) and TotalEnergies Suriname (TotalEnergies) and QatarEnergy signed production sharing contracts for offshore blocks 6 and 8 on Monday 8 May 2023.

Staatsolie’s task is to promote and contract the offshore areas after its own analyses. In 2021, the Shallow Offshore Bid Round 2020-2021 was completed. Production Sharing Contracts (PSCs) have already been signed with Chevron from this Bid Round for blocks 5 and 7, with Shell participating in block 5. These blocks are already being explored.

By entering the PSCs, Staatsolie grants TotalEnergies and QatarEnergy exploration, development, and production rights. Staatsolie also has a forty percent participation through its subsidiary Paradise Oil Company (POC). This participation was confirmed by the signing of the Joint Operating Agreement (JOA) in which the conditions are specified. The costs in the exploration phase will be carried by TotalEnergies and QatarEnergy. As included in the PSC, the exploration period will last six years, with a first exploration well to be drilled in the third or fourth year.

Meanwhile Staatsolie has ensured that new 3D seismic data has been collected in these blocks, so that proceeding to the interpretation of the subsurface can be smoothly. By participating in the PSC with forty percent from the start, Staatsolie will actively participate in the collection and analysis of data.

he PSC, which is valid for thirty years, was signed by Staatsolie's Managing Director Annand Jagesar, the representative of TotalEnergies, Philippe Blanchard, the representative of QatarEnergy, Ali Al Mana. The JOA was signed by the representatives of TotalEnergies and QatarEnergy, and the director of POC, Rekha Bissumbhar.

Blocks 6 and 8 are in the west of the Shallow Offshore (SHO) area, south of the recent deep water discoveries in Block 58 and north of the onshore producing fields.

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 TotalEnergies

TotalEnergies is a broad energy company that produces and markets energies on a global scale: oil and biofuels, natural gas and green gases, renewables and electricity. Our 105,000 employees are committed to energy that is ever more affordable, clean, reliable and accessible to as many people as possible. Active in more than 130 countries, TotalEnergies puts sustainable development in all its dimensions at the heart of its projects and operations to contribute to the well-being of people.

About QatarEnergy

As a fully integrated energy corporation, QatarEnergy covers the full spectrum of the oil and gas value chain – from exploration to production, from processing and refining to sales and delivery.
As stewards of Qatar's natural resources and the world's largest provider of LNG, our strength rests in our ready access to Qatar's unique reserves to provide energy that fuels social and economic prosperity.