Suriname state oil firm Staatsolie will launch in November an "open-door offering" for offshore areas to be explored and evaluated, the company said on Aug. 26, as the small South American nation seeks partners and financing for what it hopes could be an oil and gas boom.
Following a positive investment decision last year for the flagship $12 billion Gran Morgu project between TotalEnergies, APA Corp. and Staatsolie, and several reserve findings by Malaysia's Petronas at Block 52, the country expects to inaugurate offshore oil and gas output by 2028.
As opposed to neighbor Guyana, where all production is controlled by an Exxon Mobil-led consortium, Suriname wants to secure a diverse energy sector by promoting partnerships between Staatsolie and companies from the U.S., Europe and Asia.
Companies currently exploring have been awarded areas following bidding rounds.
Staatsolie and Petronas in June signed a production-sharing contract for Block 66 in the western part of the Suriname-Guyana Basin, expanding the total number of areas where Petronas is participating to six.
In this upcoming round for offshore acreage, companies will be able to opt for technical evaluation agreements or production-sharing contracts, Staatsolie said in a release.
Full details for the offering will be published on November 24, Staatsolie added.