Suriname’s state oil company Staatsolie announced it will open a new offshore licensing round on November 24, 2025, giving investors the chance to bid for open acreage under flexible contract terms.
The Open-Door Offering will allow companies to select their preferred area offshore Suriname and proceed with either a Joint Study Agreement (JSA)/Technical Evaluation Agreement (TEA) or a Production Sharing Contract (PSC). A JSA or TEA enables companies to carry out early-stage studies and evaluations before committing to exploration drilling, while a PSC is a standard global arrangement in which contractors fund exploration and production in exchange for a share of oil and gas revenues.
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Staatsolie confirmed that full details of the process will be released when the offering officially launches in November.
Deals structured under PSCs are common in the international oil industry, including the recent negotiations by ExxonMobil for a deepwater block offshore Trinidad and Tobago.
The announcement comes as Suriname prepares for its first offshore oil development in Block 58, led by TotalEnergies and APA Corporation, which is projected to deliver first oil by 2028. The Open-Door Offering could complement this flagship project by drawing new investment to the emerging frontier.
Almost 50% of Suriname’s offshore acreage is under contract, Staatsolie had said earlier this year. Its ongoing efforts to secure offshore blocks are part of a strategy to maximize international partnerships and enhance understanding of Suriname’s offshore geology.
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With participation interests in other blocks, Staatsolie is working to position itself as the Master of the Basin by converting geological data into valuable insights, which can lead to future hydrocarbon discoveries.
