KUALA LUMPUR, Nov 7 – Petronas, through its subsidiary Petronas Suriname E&P, has secured production sharing contracts (PSCs) for blocks 9 and 10 in the shallow offshore region of Suriname.
The agreements were signed with Staatsolie Maatschappij Suriname, Paradise Oil Company (POC), and a consortium comprising Chevron Suriname Exploration and QatarEnergy International E&P.
These PSCs, awarded as part of the Suriname Post Shallow Offshore 2 Bid Round 2024–25, are valid for a period of 30 years.
They provide the partners with exclusive rights to explore, develop and produce hydrocarbons in the two blocks.
Block 9 covers 2,674km² and Block 10 2,972km², with both located around 50km from the Saramacca coast in waters up to 50m deep.
Petronas holds a 30% stake and serves as the operator for Block 9, with Chevron and QatarEnergy each holding 20% and POC holding 30%.
In Block 10, Chevron acts as operator and holds a 30% interest, while Petronas and QatarEnergy each hold 30% and POC 10%.
Petronas vice-president of exploration Faisal Bakar said: “Petronas is focused on growing our presence in Suriname and we thank Staatsolie and the Government of the Republic of Suriname for their continued support.
“Building on our recent success and our aspiration to grow in the country, we are preparing for upcoming exploration activities.
“The expansion into blocks 9 and 10 reflects our confidence in Suriname’s offshore potential and our commitment to creating sustainable value for the nation and its people.”
The initial exploration phase will last three years, focusing on acquiring and analysing 3D seismic data to map the subsurface structure and identify potential oil and gas reservoirs.
The agreements also include measures to support local workforce participation and social investment in line with Suriname’s national objectives.
With the new PSCs, Petronas now holds interests in eight offshore blocks in Suriname, including Block 66, signed in June 2025.
Staatsolie said that the agreements further support its strategy to develop Suriname’s offshore oil and gas resources with international partners.
The company plans to secure agreements for the remaining open offshore acreage.
Suriname Minister of Oil, Gas and Environment Patrick Brunings said: “We will continue to attract investors to invest in our basin and use these revenues to make Suriname greener and more sustainable, which we call Suriname 3.0.
“I reaffirm the government’s continued support. The success of blocks 9 and 10 will not only bring economic development, but will also create opportunities for capacity building, employment and community development.”
