The Suriname government is hoping that more Chinese companies will become involved in the country’s oil and gas industry after the state-owned company, Staatsolie signed a production-sharing contract with PetroChina.
Suriname and Guyana are taking significant steps toward jointly exploiting gas reserves off their coasts. Staatsolie director Annand Jagesar stressed the importance of this collaboration, acknowledging that while immediate outcomes are unlikely, both countries are committed to developing a shared approach.
A gas partnership could be on the horizon for Guyana and Suriname, as the two countries continue to deepen their relations.
PetroChina Investment Suriname BV, a subsidiary of China National Petroleum Corp., signed a production sharing contract on Blocks 14 and 15 in Suriname with state-owned Staatsolie Maatschappij Suriname.
According to Reuters, Equinor and ExxonMobil have transferred their stakes in a deepwater oil and gas exploration block offshore Suriname to Hess Corp, with Equinor exiting the South American country.
Chevron, the operator of Suriname’s offshore block 5, will retain a 40% interest ,while Paradise Oil Company, an affiliate of Suriname’s state oil firm Staatsolie,will own the remaining 40%.
Oil major TotalEnergies intends to develop a US$9Bn deepwater oil project in Suriname using a nexus of subsea infrastructure connected to a newbuild FPSO
Block 58 is adjacent to ExxonMobil’s Stabroek block in Guyana, a site with more than 11 billion barrels (bbbl) of recoverable oil and gas.
Suriname’s discovered oil resources now total more than 2.4 Bbbl of crude and liquids, and the nation has more than 12.5 tcf of gas, according to Wood Mackenzie.
Petronas Suriname E&P, a subsidiary of Malaysia’s energy giant Petronas, and ExxonMobil Exploration and Production Suriname, an affiliate of the U.S. oil major ExxonMobil, have made another hydrocarbon discovery at an exploration well in Block 52 offshore Suriname.