Saturday, August 13, 2022

Over 60% of Suriname’s deepwater acreage remain unlicensed; new bid round nears

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OilNOW
OilNOW is an online-based Information and Resource Centre

Suriname’s state oil company, Staatsolie is set to auction off several deepwater blocks this year with another bid round reportedly planned for the shallow blocks by mid-2023.

“We are very excited about the prospects of releasing further offshore acreage,” Annand Jagesar, Staatsolie’s Managing Director, told OilNOW ahead of a major energy conference set to take place this week.

The CEO said Suriname currently has over 60% of its offshore acreage unlicensed.

“Building on the success of the discoveries in Block 58 and 52, substantial work has been undertaken on the entire offshore dataset at a regional and block specific level which is highlighting that all the elements of a working petroleum system are present in the unlicensed area,” he pointed out.

Suriname held a bid round for shallow water blocks back in 2021 but interest was only shown in three of the eight blocks.

The blocks that went on offer 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.

“We are interrogating the dataset very hard (internal, external, global experts) through among other deep analysis of the successes and failures, this is enabling us to “crack the code”. We will be providing more details during the conference,” Jagesar said.

The 2nd edition of the Suriname Energy, Oil & Gas Summit & Exhibition (SEOGS 2022) will be hosted this week in Paramaribo from June 28 to 30. The event is set to provide the opportunity to hear from government, meet the major operators, licence holders, tier one contractors, service companies and the entire value chain in Suriname’s nascent hydrocarbons sector.

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