Editorial

TotalEnergies expansion bolsters Suriname's offshore oil prospects

  • Posted 2 months ago
  • Oil & Gas

TotalEnergies concerted efforts in expanding its portfolio in Suriname’s offshore basin, notably with the recent signing of a production sharing contract for Block 64 alongside QatarEnergy and Petronas, hold significant promise for the country’s offshore oil production landscape.

Block 64, covering a vast expanse of 6,262 km2 and situated approximately 250 km offshore, marks TotalEnergies’ latest venture in Suriname. Under the agreement, TotalEnergies will spearhead operations, holding a 40% interest, with QatarEnergy and Petronas sharing the remaining 60%.

TotalEnergies’ involvement in Suriname’s oil sector is not limited to block 64. The company currently operates block 58 with a 50% interest, where five noteworthy discoveries have been made. Development studies are underway in Block 58, aiming to greenlight an ambitious 200,000 barrels per day (bpd) oil project by the close of 2024.

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