TotalEnergies expands offshore presence in Suriname with new exploration license

(WO) — TotalEnergies, in partnership with QatarEnergy and Petronas, have signed a production sharing contract for Block 64 with Staatsolie Maatschappij Suriname (Staatsolie), the State-owned oil company of Suriname.

Block 64 was awarded to TotalEnergies and its partners in the Bid Round 2022-2023 organized by the authorities of Suriname. TotalEnergies will operate the block with a 40% interest, alongside QatarEnergy (30%) and Petronas (30%).

Block 64 is a large 6,262 sq. km block located about 250 km from shore.

“TotalEnergies is delighted to expand further its presence in offshore Suriname, together with two strategic partners. This new block fits well with our strategy to focus our exploration activity in exploring for material low cost and low emission resources in core areas for the company,” Kevin McLachlan, senior vice president of exploration of TotalEnergies, said.

In Suriname, TotalEnergies operates Block 58 (50%) where five discoveries have been made and where development studies are in progress, with the objective of sanctioning a 200,000 bbl/d oil project by end 2024. In May 2023, TotalEnergies entered exploration blocks 6 and 8 as operator (40%) alongside QatarEnergy (20%) and Paradise Oil Company (POC), a subsidiary of the national company Staatsolie (40%).