Petronas expands offshore presence in Suriname
Petronas, Malaysia's state-owned oil and gas company, has signed production sharing contracts for Suriname's offshore Blocks 63 and 64 with state-owned Staatsolie Maatschappij Suriname, it announced on December 15.
Petronas Suriname E&P, a subsidiary of Petronas, emerged successfully in securing Blocks 63 and 64 during the Suriname Demerara Bid Round 2022-2023 held in June of this year.
Block 63, spanning 5,425 km2, is located approximately 200 km offshore Suriname, nestled in water depths of around 1,700 m. Block 64, with a substantial size of 6,262 km2, is positioned 250 km from the shore in slightly shallower waters, registering at 1,300 m.
Petronas Suriname E&P holds a 100% participating interest in and operates Block 63 independently. In Block 64, TotalEnergies has secured a 40% participating interest and will operate it, with the remaining stake evenly divided between Petronas Suriname E&P and QatarEnergy.
Petronas Suriname E&P currently operates Block 52 in a 50:50 partnership with ExxonMobil and controls Block 48 with a 100% participating interest. Additionally, Petronas has a 30% participating interest in Block 53.