On November 5, 2025, Staatsolie Maatschappij Suriname N.V. signed Production Sharing Contracts (PSCs) for offshore Blocks 9 and 10. The contracts were signed with the operators PETRONAS Suriname E&P B.V. (Block 9) and Chevron Suriname Exploration Limited (Block 10).
For Block 9, PETRONAS Suriname will serve as the operator, alongside partners Chevron Suriname Exploration, QatarEnergy International E&P, and Paradise Oil Company (POC). The participation split for this block is as follows: PETRONAS Suriname (30%), Chevron (20%), QatarEnergy (20%), and POC (30%). In Block 10, Chevron is the operator, with PETRONAS Suriname, QatarEnergy, and POC as partners. The participation split for Block 10 is: Chevron (30%), PETRONAS Suriname (30%), QatarEnergy (30%), and POC (10%).
By signing these PSCs, the parties involved obtain the exclusive rights for exploration, development, and production in the respective blocks. The initial phase of the exploration period will last three years, during which the focus will be on acquiring and processing 3D seismic data to map the subsurface structure. This is essential for identifying potential oil and gas reservoirs.
'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', said minister Brunings.
The PSCs, which have a duration of thirty years, were signed by Annand Jagesar (Managing Director, Staatsolie), Danny Tan (Country Head, PETRONAS Suriname), Ali Al Mana (Manager Upstream International, QatarEnergy), Andrew Deighan (Americas Exploration Director, Chevron), and Rekha Bissumbhar (Director, POC). The signing took place in the presence of the Minister of Oil, Gas & Environment, Patrick Brunings, and the Minister of Natural Resources, David Abiamofo.
The blocks are located in the shallow water area approx. 50 km from the coast of Saramacca. Block 9 covers an area of 2,674 km², while Block 10 spans 2,972 km². The water depth in these areas reaches up to fifty meters.
Minister Abiamofo thanked the negotiating team and emphasized the government's support and the impact of this development on Suriname. '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.'
With the signing of these contracts, Staatsolie continues to advance its strategy to responsibly develop Suriname’s offshore oil and gas potential in collaboration with reputable international partners. The company remains committed to securing agreements for the remaining open offshore acreage. These agreements mark an important step in further positioning Suriname within the international exploration and production sector.
Source: Staatsolie
