TotalEnergies, QatarEnergy, and Petronas have signed a production sharing contract with Staatsolie Maatschappij Suriname (Staatsolie), the state-owned oil company of Suriname in South America, for Block 64.

This block, spanning 6,262 km2 and located 250 km from shore, was awarded to the companies in the Bid Round 2022-2023 organized by the Surinamese authorities.

TotalEnergies will hold a 40% interest in the block, while QatarEnergy and Petronas will hold 30% each.

“TotalEnergies is delighted to expand further its presence in offshore Suriname, together with two strategic partners. This new block fits well with our strategy to focus our exploration activity in exploring for material low cost and low emission resources in core areas for the Company”, said Kevin McLachlan, Senior Vice President Exploration of TotalEnergies in a press release.

Notably, TotalEnergies is already operating Block 58 in Suriname with a 50% interest, where five discoveries have been made. The company is currently conducting development studies with the goal of sanctioning a 200,000 barrels per day (bbl/d) oil project by the end of 2024.

Furthermore, in May 2023, TotalEnergies will become the operator of exploration blocks 6 and 8 with a 40% interest, alongside QatarEnergy holding 20% and Paradise Oil Company (POC), a subsidiary of Staatsolie holding 40%.