Suriname has taken a significant step forward in its offshore oil and gas exploration efforts with the signing of Production Sharing Contracts (PSCs) for Blocks 9 and 10. The contracts were formalized by Staatsolie, the state-owned oil company, in collaboration with international operators Petronas Suriname E&P B.V. (Block 9) and Chevron Suriname Exploration Limited (Block 10).
In Block 9, Petronas Suriname will serve as the operator, partnering with Chevron Suriname Exploration Ltd., QatarEnergy International E&P LLC, and Paradise Oil Company (POC). The ownership distribution in this block is as follows: Petronas Suriname holds 30%, Chevron 20%, QatarEnergy 20%, and POC 30%. For Block 10, Chevron assumes the role of operator, with Petronas Suriname, QatarEnergy, and POC as partners. The ownership breakdown here is Chevron 30%, Petronas Suriname 30%, QatarEnergy 30%, and POC 10%.
The PSCs grant the involved parties exclusive rights for exploration, development, and production in their respective blocks. The initial exploration phase, spanning three years, will focus on collecting and processing 3D seismic data to map subsurface structures and identify potential oil and gas reserves.
Speaking at the signing ceremony, Patrick Brunings, Suriname’s Minister of Oil, Gas, and Environment, emphasized the country’s commitment to sustainable development. ‘We will continue to attract companies to invest in our basin and use the revenues to make Suriname greener and more sustainable—what we call Suriname 3.0,’ he stated.
The contracts, valid for thirty years, were signed by Annand Jagesar (General Director of Staatsolie), Danny Tan (Country Head of Petronas Suriname), Ali Al-Mana (Manager of Upstream International at QatarEnergy), Andrew Deighan (Americas Exploration Director at Chevron), and Rekha Bissumbhar (Director of POC). The event was attended by Minister Brunings and David Abiamofo, Minister of Natural Resources.
Blocks 9 and 10 are located in shallow waters approximately 50 kilometers off the coast of Saramacca. Block 9 covers an area of 2,674 km², while Block 10 spans 2,972 km², with water depths reaching up to 50 meters.
Minister Abiamofo praised the negotiation team and highlighted the government’s support for the initiative. ‘The success of Blocks 9 and 10 will not only drive economic development but also create opportunities for capacity building, employment, and community development,’ he remarked.
This milestone underscores Staatsolie’s strategy to responsibly develop Suriname’s offshore oil and gas potential in partnership with renowned international entities. The agreements mark a pivotal step in positioning Suriname as a key player in the global exploration and production sector.