December 16, 2023 [Reuters]- Shell (SHEL.L), TotalEnergies (TTEF.PA), QatarEnergy and Petronas on Friday signed production-sharing contracts with Suriname state firm Staatsolie for three offshore blocks, expanding foreign participation in the nascent oil producing country.
The South American country is now awarding exploration and production rights on the northeastern margin of the Suriname-Guyana Basin, following two previous auctions in recent years in shallow and deep waters and the planning of large projects.
“This new block fits perfectly with our strategy, which is to focus our exploration activity on low-cost, low-emission material resources in key areas for the company,” said TotalEnergies’ Exploration Director, Kevin McLachlan, in a release.
In blocks 64 and 65, the groups led by TotalEnergies and Shell have offered to drill an exploration well in the first three years, said aid Annand Jagesar, Staatsolie’s managing director.
12,600 tank storage and production facilities as per the date of this article. Click on the button and register to get instant access to actionable tank storage industry data