Upstream chatter on the rise in Suriname ahead of potential FID

Upstream activity in Suriname has been gaining traction amid expectation of the final investment decision (FID) for what would be the country’s first deepwater oil contributor.

Block 58 operator TotalEnergies and partner APA are due to make the FID this year as early-stage work advances in coordination with national oil company Staatsolie, which has the option to participate in the offshore acreage.

Among the latest developments is QatarEnergy’s announcement that it signed an agreement with Chevron to acquire a 20% working interest in the production sharing contract for shallow water block 5.

Chevron would continue as operator with a 40% stake and Staatsolie subsidiary Paradise Oil also would hold 40%.

The block is in water depths of 30-45m, and the license is proceeding to its second exploration phase with a commitment to drill an exploration well.

In Suriname, QatarEnergy holds interests in shallow water blocks 6 and 8, and deepwater blocks 64 and 65.

Plans to further monetize the South American nation’s hydrocarbon resources also continue with Staatsolie’s proposed exploration of onshore acreage.

The NOC has released the final report of the limited environmental and social impact assessment for a 2D seismic exploration campaign and exploration drilling program in the Coronie coastal block.

The work includes the survey of around 200km across five seismic lines and the drilling of three wells, according to the report, available in the Documents box in the top-right corner.

Staatsolie also published a notice that it plans to start drilling in the Wayamboweg area soon.

Although additional information on the latter was not disclosed, Wayamboweg is within the Uitkijk onshore block.

Coronie and Uitkijk are adjacent to Suriname’s only crude producing areas: Staatsolie-operated blocks Calcutta and Tambaredjo. Output last year totaled 6.27Mb (million barrels) compared with 6.14Mb in 2022.

Source: Staatsolie

The process closed May 31 and several bids were received, and although awarding was scheduled for June 28, there have been no new updates or names released.