Petronas expands Suriname presence with multi-block deal

PARAMARIBO, November 5, 2025 – Petronas has signed production sharing contracts for Blocks 9 and 10 in Suriname’s shallow offshore region with Staatsolie, Chevron, QatarEnergy and Paradise Oil, the company said on Wednesday.

The blocks span around 5,456 square kilometres between deepwater discoveries and onshore producing fields. The contracts were awarded through the Suriname Post Shallow Offshore 2 Bid Round 2024-2025.

Petronas will operate Block 9 with a 30% stake, alongside Chevron and QatarEnergy at 20% each and Paradise Oil at 30%. Chevron will operate Block 10 with a 30% share, with Petronas and QatarEnergy also at 30% each and Paradise Oil holding 10%.

“Petronas is focused on growing our presence in Suriname… The expansion into Blocks 9 and 10 reflects our confidence in Suriname’s offshore potential,” vice-president of exploration Faisal Bakar said.

The PSCs include commitments to local workforce participation and social investment in alignment with Suriname’s national development priorities.

With these contracts, Petronas now holds interests in eight offshore blocks in Suriname, including Block 66 signed in June 2025.

Petronas is Malaysia’s state-owned energy company operating across the upstream, midstream and downstream value chain. In Suriname, it is expanding its exploration presence in the offshore basin through multiple partnerships and PSCs to support the country’s hydrocarbons development.

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