Three bids were offered on the Demerara Acreage offshore Suriname in Bid Round 2022-2023. (Source: Shutterstock)
TotalEnergies signed a production sharing contract with Staatsolie Maatschappij Suriname (Staatsolie) for Block 64 following the conclusion of Bid Round 2022-2023.
Block 64 spans 6,262 sq km and is about 250 km offshore Suriname. Staatsolie refers to the area available in the 2022-2023 round, which closed May 31, as the Demerara Acreage and said it received three bids.
TotalEnergies will operate Block 64 with 40% interest on behalf of partners QatarEnergy and Petronas, each with 30% interest.
TotalEnergies also operates Block 48 offshore Suriname with 50% interest. Five discoveries were made there and development studies are in progress. TotalEnergies aims to sanction a 200,000 bbl/d oil project by the end of 2024.
In May 2023, TotalEnergies entered exploration blocks 6 and 8 as an operator with 40% interest alongside QatarEnergy with 20% and national company Staatsolie subsidiary Paradise Oil Co. with 40%.