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June 21, 2021updated 22 Jun 2021 2:49pm

Suriname awards three oil blocks to Chevron and Total-Qatar consortium

The consortium comprising of Qatar Petroleum, TotalEnergies and Staatsolie has won right to explore shallow water blocks 6 and 8.

By Archana Rani

Suriname’s state oil company Staatsolie has awarded three offshore exploration blocks to Chevron and a consortium of Qatar Petroleum and TotalEnergies.

The contracts have been awarded as part of the shallow offshore (SHO) bid round 2020/2021.

The consortium comprising Qatar Petroleum (20%), TotalEnergies (40%) and Staatsolie (40%) has won the bid for Block 6 and Block 8 while Chevron Exploration Suriname has been awarded Block 5.

Located in the southern part of offshore Suriname, close to the border with Guyana, the adjacent blocks 6 and 8 are situated immediately adjacent to the prolific Block 58 discoveries.

The two blocks cover a total area of approximately 2,750km².

Qatar Petroleum president and CEO and Qatar Minister of Energy Saad Sherida Al-Kaabi said: “We are pleased to be awarded exploration rights in blocks 6 and 8, and this represents Qatar Petroleum’s first entry into Suriname.

“This successful result also increases our presence in the Guyana-Suriname Basin and further strengthens Qatar Petroleum’s footprint in Latin America, marking yet another successful step towards realising our international growth ambitions.”

Staatsolie said it is progressing to conclude production sharing contracts (PSCs) with the successful bidders for the relevant blocks.

Under the bidding round 2020/2021 launched in November 2020, Staatsolie offered a total of eight new blocks in the currently unlicensed and underexplored SHO acreage of Suriname.

These blocks are located in the west of the Shallow Offshore area, south of the recent discoveries made in Block 58, and northwest of the onshore producing fields.

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