TotalEnergies Expands Offshore Portfolio in Suriname through Strategic PSC Agreements

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TotalEnergies Expands Offshore Portfolio in Suriname through Strategic PSC Agreements

(IN BRIEF) TotalEnergies and its partners have signed Production Sharing Contracts (PSC) with Staatsolie Maatschappij Suriname for offshore Blocks 6 and 8 in Suriname. TotalEnergies will operate the blocks with a 40% interest, while QatarEnergy holds 20% and Paradise Oil Company (a subsidiary of Staatsolie) holds 40%. The blocks are located in shallow waters near the Guyana border and adjacent to Block 58, where significant discoveries have been made. This agreement represents TotalEnergies’ commitment to expanding its presence in Suriname’s offshore oil and gas sector.

(PRESS RELEASE) PARIS, 15-May-2023 — /EuropaWire/ — TotalEnergies (EPA:TTE), a global multi-energy company with over 100,000 employees and presence in more than 130 countries as well as the world’s 3rd-largest low-carbon LNG company, in collaboration with its partners, has successfully finalized Production Sharing Contracts (PSC) with Staatsolie Maatschappij Suriname (Staatsolie), the State-owned oil company of Suriname, for Blocks 6 and 8.

Following the Suriname Shallow Offshore Bid Round 2020/2021, TotalEnergies was awarded the exploration rights for Blocks 6 and 8. Under the terms of the agreement, TotalEnergies will hold a 40% interest and operate the two blocks, while QatarEnergy will possess a 20% interest, and Paradise Oil Company (POC), a subsidiary of Staatsolie, will have a 40% interest.

Situated in the southern region of offshore Suriname, near the Guyana border, Blocks 6 and 8 encompass shallow water areas ranging from 30 meters to 50 meters in depth. These blocks are in close proximity to Block 58, where several significant discoveries have already been made, and appraisal drilling activities are currently underway.

This partnership marks an important milestone in TotalEnergies’ commitment to further expanding its exploration and production activities in Suriname’s offshore oil and gas sector. By leveraging its expertise and collaborating with esteemed partners, TotalEnergies aims to unlock the potential of Blocks 6 and 8, contributing to the development of Suriname’s energy resources.

“TotalEnergies is pleased to expand its operatorship position in Suriname, a world class emerging basin, exploring for low technical costs and low GHG emission oil resources” outlined Kevin McLachlan, Senior Vice President Exploration, at TotalEnergies. “This new milestone further strengthens our strategic international partnership with QatarEnergy marking its first entry to Suriname”.

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About TotalEnergies

TotalEnergies is a global multi-energy company that produces and markets energies: oil and biofuels, natural gas and green gases, renewables and electricity. Our more than 100,000 employees are committed to energy that is ever more affordable, cleaner, more reliable and accessible to as many people as possible. Active in nearly 130 countries, TotalEnergies puts sustainable development in all its dimensions at the heart of its projects and operations to contribute to the well-being of people.

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Cautionary Note
The terms “TotalEnergies”, “TotalEnergies company” or “Company” in this document are used to designate TotalEnergies SE and the consolidated entities that are directly or indirectly controlled by TotalEnergies SE. Likewise, the words “we”, “us” and “our” may also be used to refer to these entities or to their employees. The entities in which TotalEnergies SE directly or indirectly owns a shareholding are separate legal entities. TotalEnergies SE has no liability for the acts or omissions of these entities. This document may contain forward-looking information and statements that are based on a number of economic data and assumptions made in a given economic, competitive and regulatory environment. They may prove to be inaccurate in the future and are subject to a number of risk factors. Neither TotalEnergies SE nor any of its subsidiaries assumes any obligation to update publicly any forward-looking information or statement, objectives or trends contained in this document whether as a result of new information, future events or otherwise. Information concerning risk factors, that may affect TotalEnergies’ financial results or activities is provided in the most recent Registration Document, the French-language version of which is filed by TotalEnergies SE with the French securities regulator Autorité des Marchés Financiers (AMF), and in the Form 20-F filed with the United States Securities and Exchange Commission (SEC).

SOURCE: TotalEnergies

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