Suriname blocks 14 and 15 go to PetroChina

PARAMARIBO, September 16, 2024 – Staatsolie and PetroChina Investment Suriname, a subsidiary of China National Petroleum Corporation, have signed production-sharing contracts for offshore blocks 14 and 15, Staatsolie announced on Friday.

Block 14 and Block 15 were part of the Suriname Shallow Offshore 2 Bid Round and are located 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 between 50 and 75 meters and Block 15 between 75 and 150 meters.

Staatsolie will retain a 30% interest in the blocks through its subsidiary Paradise Oil Company (POC), which also holds interests in offshore blocks 5, 6 and 7. POC and PetroChina will sign a joint operating agreement for the exploration, development and production of oil and gas in blocks 14 and 15, as well as for the distribution of the project’s costs, risks and revenues.

Following the block allocation, approximately 46% of the Surinamese offshore area is now under contract, in line with Staatsolie’s stated strategy to have as much offshore acreage as possible under contract with international companies.

Photo courtesy Staatsolie.

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