par energy_isere » 18 sept. 2024, 00:43
Staatsolie, PetroChina Ink PSCs for Suriname Blocks
by Rocky Teodoro|Rigzone Staff | Tuesday, September 17, 2024
Suriname’s state-owned Staatsolie Maatschappij Suriname N.V. and PetroChina Investment Suriname B.V. (PetroChina), a subsidiary of China National Petroleum Corporation, have signed production sharing contracts (PSCs) for offshore blocks 14 and 15 in Suriname.
PetroChina has obtained exploration, development and production rights in Block 14 and Block 15, while Staatsolie has a 30 percent participation interest through its subsidiary Paradise Oil Company N.V. (POC), it said in a news release.
POC and PetroChina will also sign a joint operating agreement (JOA), according to the release. The JOA sets out the agreements between the contract parties regarding the exploration, development and production of oil and gas, and the distribution of the costs, risks and revenues of the project, Staatsolie said.
Block 14 and Block 15 were part of the Suriname Shallow Offshore 2 Bid Round 2023-2024. The blocks are in the eastern part of the Suriname-Guyana basin and border Block 52, where oil and gas discoveries have previously been made. Block 14 has water depths of 164 to 246 feet (50 to 75 meters), and Block 15 has water depths of 246 to 492 feet (75 to 150 meters).
Staatsolie noted that it also has participation interests in blocks 5, 6, 7 and 8, which were part of the Shallow Offshore Bid Round 2020-2021 via POC.
Exploration activities in the blocks are ongoing, with recent studies showing that the geology of the Shallow Offshore looking “promising,” the state-owned company said.
With the two newly concluded PSCs, approximately 46 percent of the Surinamese offshore area is now under contract, according to the release.
Staatsolie said its strategy is to have as much of the offshore as possible under contract with international parties. The company invests in studying all data from all blocks in the Surinamese part of the Guyana-Suriname basin, which allows it to become the “Master of the basin,” meaning that it can convert data into usable information.
In June, TotalEnergies and Staatsolie said they were moving closer to a final investment decision (FID) on the development of offshore Block 58 in Suriname.
The FID is expected in the fourth quarter, while the start of production at the asset is seen in 2028, TotalEnergies said in an earlier news release.
TotalEnergies is the operator of Block 58 with a 50 percent interest, alongside APA Corporation, which also has 50 percent. Staatsolie has the option to enter the development project with up to 20 percent interest upon FID.
Some key milestones have been recently reached as the companies move towards an FID, according to the release. An agreement was concluded between Staatsolie and TotalEnergies on the field development area, maximizing the value for Suriname and the Block 58 co-venturers over the production period of 25 years. In addition, the hull for the development’s floating production storage and offloading (FPSO) unit has been secured, with a capacity of 200,000 barrels of oil per day.
TotalEnergies said that engineering studies (FEED) are progressing for the development of the Sapakara and Krabdagu fields, with combined recoverable resources estimated above 700 million barrels, due to the integration of Water Alternating Gas (WAG) injection technology to maximize recovery.
https://www.rigzone.com/news/staatsolie ... 2-article/[quote][b][size=120] Staatsolie, PetroChina Ink PSCs for Suriname Blocks[/size][/b]
by Rocky Teodoro|Rigzone Staff | Tuesday, September 17, 2024
Suriname’s state-owned Staatsolie Maatschappij Suriname N.V. and PetroChina Investment Suriname B.V. (PetroChina), a subsidiary of China National Petroleum Corporation, have signed production sharing contracts (PSCs) for offshore blocks 14 and 15 in Suriname.
PetroChina has obtained exploration, development and production rights in Block 14 and Block 15, while Staatsolie has a 30 percent participation interest through its subsidiary Paradise Oil Company N.V. (POC), it said in a news release.
POC and PetroChina will also sign a joint operating agreement (JOA), according to the release. The JOA sets out the agreements between the contract parties regarding the exploration, development and production of oil and gas, and the distribution of the costs, risks and revenues of the project, Staatsolie said.
Block 14 and Block 15 were part of the Suriname Shallow Offshore 2 Bid Round 2023-2024. The blocks are in the eastern part of the Suriname-Guyana basin and border Block 52, where oil and gas discoveries have previously been made. Block 14 has water depths of 164 to 246 feet (50 to 75 meters), and Block 15 has water depths of 246 to 492 feet (75 to 150 meters).
Staatsolie noted that it also has participation interests in blocks 5, 6, 7 and 8, which were part of the Shallow Offshore Bid Round 2020-2021 via POC.
Exploration activities in the blocks are ongoing, with recent studies showing that the geology of the Shallow Offshore looking “promising,” the state-owned company said.
With the two newly concluded PSCs, approximately 46 percent of the Surinamese offshore area is now under contract, according to the release.
Staatsolie said its strategy is to have as much of the offshore as possible under contract with international parties. The company invests in studying all data from all blocks in the Surinamese part of the Guyana-Suriname basin, which allows it to become the “Master of the basin,” meaning that it can convert data into usable information.
In June, TotalEnergies and Staatsolie said they were moving closer to a final investment decision (FID) on the development of offshore Block 58 in Suriname.
The FID is expected in the fourth quarter, while the start of production at the asset is seen in 2028, TotalEnergies said in an earlier news release.
TotalEnergies is the operator of Block 58 with a 50 percent interest, alongside APA Corporation, which also has 50 percent. Staatsolie has the option to enter the development project with up to 20 percent interest upon FID.
Some key milestones have been recently reached as the companies move towards an FID, according to the release. An agreement was concluded between Staatsolie and TotalEnergies on the field development area, maximizing the value for Suriname and the Block 58 co-venturers over the production period of 25 years. In addition, the hull for the development’s floating production storage and offloading (FPSO) unit has been secured, with a capacity of 200,000 barrels of oil per day.
TotalEnergies said that engineering studies (FEED) are progressing for the development of the Sapakara and Krabdagu fields, with combined recoverable resources estimated above 700 million barrels, due to the integration of Water Alternating Gas (WAG) injection technology to maximize recovery.
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https://www.rigzone.com/news/staatsolie_petrochina_ink_pscs_for_suriname_blocks-17-sep-2024-178132-article/