QatarEnergy and Chevron share contract for offshore Suriname

QatarEnergy has signed an agreement with Chevron to acquire a 20% working interest in a production sharing contract for block 5 offshore Suriname.

According to the signed agreement, Chevron will retain a 40% interest and act as operator, while Paradise Oil Company, an affiliate of Suriname’s national oil company “Staatsolie”, will own the remaining 40%.

Block 5 is located offshore Suriname in shallow water depths of about 30-45 m. The license is currently proceeding to its second exploration phase with a commitment to drill an exploration well.