PetroChina joins exploration hotspot offshore Suriname with new Staatsolie agreement
(WO) – Staatsolie Maatschappij Suriname N.V. (Staatsolie) and PetroChina signed production sharing contracts for blocks 14 and 15 offshore Suriname.
By signing the production sharing contracts, PetroChina has obtained exploration, development and production rights in Block 14 and Block 15. Staatsolie has a 30% participation interest through its subsidiary Paradise Oil Company N.V. (POC).
Block 14 and Block 15 were part of the Suriname Shallow Offshore 2 Bid Round 2023-2024. The blocks are in the eastern part of the Suriname-Guyana basin and border Block 52, where oil and gas discoveries have previously been made. Block 14 has water depths of 50 to 75 m, and Block 15 from 75 to 150 m.
Staatsolie, via POC, also has participation interests in blocks 5, 6, 7 and 8, which were part of the Shallow Offshore Bid Round 2020-2021. Exploration activities in these blocks are ongoing. Recent studies show that the geology of the Shallow Offshore looks promising.
China National Petroleum Corporation (CNPC) is an integrated international energy company with operations in China and the rest of the world. CNPC is one of the world's largest oil companies.
With the two newly concluded production sharing contracts, approximately 46% of the Surinamese offshore area is now under contract. Staatsolie's strategy is to have as much of the offshore as possible under contract with international parties.
