France-based TotalEnergies has announced that together with its partners Petronas and QatarEnergy, it has signed an agreement with Suriname’s state-owned oil company, Staatsolie Maatschappij Suriname (Staatsolie), that will see exploration and potential production sharing in Block 64 offshore of the country.
The Suriname Government awarded Block 64 to the consortium as part of its 2022–2023 bidding round. TotalEnergies will have a 40% interest and be the designated operator for the block, while QatarEnergy and fellow lubricant and grease provider Petronas will each have a 30% interest. The block is around 150 miles off the coat of Suriname and covers a large area of 2,417 square miles.
TotalEnergies’ senior vice president for exploration, Kevin McLachlan, said about the development:
“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.”
TotalEnergies already operates Block 58 in Suriname with a 50% interest. It has made five discoveries there so far, with development studies currently being conducted. By the end of 2024, it expects to make a decision on proceeding with a project capable of pumping some 200,000 barrels per day of oil.
TotalEnergies also became the operator of exploration Blocks 6 and 8 in May 2023 with a 40% interest. Its partners in these include Staatsolie subsidiary Paradise Oil Company (40%) and QatarEnergy (20%).