In a significant move, TotalEnergies and its partners have recently expanded their foothold in Suriname1. The multinational energy company signed Production Sharing Contracts (PSC) on Blocks 6 & 8 with Staatsolie Maatschappij Suriname, the state-owned oil company2.
Major Players in the Deal
TotalEnergies, a global multi-energy company, operates in nearly 130 countries3. In the Suriname deal, it holds a 40% interest in Blocks 6 and 8. Moreover, QatarEnergy and Paradise Oil Company (POC), a subsidiary of Staatsolie, hold 20% and 40% stakes, respectively4.
Strategic Location
Firstly, blocks 6 and 8, located in the southern part of offshore Suriname, are close to the border with Guyana. Secondly, these shallow water blocks are immediately adjacent to Block 58, where several discoveries have been made, and appraisal drilling is ongoing.
Implications for the Future
This expansion is considered a strategic move for TotalEnergies. Likewise, Kevin McLachlan, Senior Vice President of Exploration at TotalEnergies, expressed the company’s satisfaction in extending its operatorship position in Suriname.
In conclusion, TotalEnergies’ increased presence in Suriname marks a new milestone in the company’s commitment to affordable, cleaner, more reliable, and accessible energy. This move also strengthens its international partnership with QatarEnergy, marking its first entry into Suriname.
