US supermajor Chevron has signed a production sharing contract with Suriname’s state-run oil company and market regulator Staatsolie to operate a block in the shallow-water portion of the Guyana-Suriname basin.

Back in June, Chevron submitted the most competitive bid for Block 5, while a consortium made up of France’s TotalEnergies and Qatar Petroleum placed the best offers for blocks 6 and 8.

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