Staatsolie Maatschappij Suriname signed a production sharing contract with PETRONAS Suriname and Paradise Oil Company NV(POC) to develop Block 66, located in deep water off the west coast of the country.
The development of Block 66 in Suriname
With an area of 3,390 km² and depths reaching 2,200 meters, Block 66 is a strategic area in the Suriname-Guyana Basin. This block borders with other assets where important discoveries have been identified, such as Blocks 52, 53 and 58.
The signing of this agreement grants PETRONAS an operating interest of 80%, while Staatsolie, through its subsidiary POC, holds the remaining 20%. This distribution consolidates the Malaysian state-owned company as the main operator of the block.
During the first exploration phase, the oil company committed to drill at least two wells in zones identified as important within the block. This step is part of a clear strategy to evaluate the hydrocarbon potential in the region with advanced technology and under the required environmental standards.
The signing ceremony was attended by Annand Jagesar, Zamri Baseri and Rekha Bissumbhar, in addition to the presence of PETRONAS Upstream International Assets Vice President Mohd Redhani Abdul Rahman.
This agreement fits into Staatsolie’s vision to take advantage of the regional exploration boom through partnerships with companies with global experience. With this new contract, about 50% of Suriname’s offshore area is under active exploration and production agreements.
PETRONAS currently operates in Blocks 48, 52, 53, 63, 64 and 66, and has recorded four hydrocarbon discoveries in Surinamese waters. The main achievements in Block 52 are in the evaluation phase.
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Source and photo: Staatsolie
