Suriname’s state-run energy company Staatsolie has launched a bidding round to award exploration rights for 11 shallow water offshore blocks.
The bid round opened on 7 November and will run until the end of May next year.
Successful bidders will be announced in June.
The blocks are in water depths up to 150 meters, in nearshore shallow offshore areas. The blocks are south of the deepwater discoveries — where majors including Shell, TotalEnergies, Chevron, ExxonMobil and Petronas are active — and closer to the coastline.
The bid is being handled by Staatsolie Hydrocarbon Institute, a wholly owned subsidiary of Staatsolie Maatschappij Suriname.
Suriname is expecting to see first oil production from its existing projects in the coming years.
TotalEnergies and Apache, which are operating the promising Block 58, are to reach final investment decision on the project sometime next year.
- Production tests to restart soon at Trinidad oil discovery
- Peak oil: Oilfield development investments need managing as transition shake-up looms
- Largest capex in history: Aramco has up to $52 billion to splash on sizeable upstream expansion
- Borr Drilling stumps up $715 million for legacy jack-up newbuilds