Saturday, September 18, 2021

Chevron and Qatar Petroleum consortium win bids for Suriname oil blocks

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Chevron Exploration Suriname Limited and a consortium consisting of TotalEnergies and Qatar Petroleum have submitted the most favourable bids for shallow offshore blocks in Suriname’s recently concluded bid round.

State oil company Staatsolie Maatschappij Suriname N.V. said on Friday Chevron submitted the most favourable bid for Block 5 while the TotalEnergies consortium submitted bids for Blocks 6 and 8.

“Staatsolie and the successful bidders are now in the process of concluding Production Sharing Contracts (PSCs) for the relevant blocks and will make further announcements once the PSCs are awarded,” the company said.

A total of 10 bids were received for 3 of the 8 blocks that went on offer on November 16, 2020. These blocks are directly in the migration pathway between the giant onshore producing fields and the recent deepwater discoveries at Block 58, which are both typed to the Albian, Cenomanian & Turonian (ACT) source kitchen.

Staatsolie had said the bid acreage is considered underexplored. Of these wells, AKT-2, drilled near the shelf edge, had encountered a 205m interval of shows in the Santonian equivalent to the deep-water discoveries, and another 87m of shows in the Albian.

Blocks 5, 6 and 8 are in closest proximity to Block 58, and the Guyana basin where a total of over 23 discoveries have been made since 2015, the bulk of which are in the prolific Stabroek Block.

In Suriname, a total of 5 discoveries have been made offshore to date – 4 at Block 58 and 1 at Block 52.

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