Signage for energy company Total SA (Photo: Reuters)

TotalEnergies deepens oil exploration activities in Suriname

Signage for energy company Total SA (Photo: Reuters)

French oil exploration and production company TotalEnergies will expand its prospecting for the commodity after securing awards, along with its partner, Qatar Petroleum, to drill blocks six and eight offshore Suriname.

Both TotalEnergies and Qatar Petroleum, which entered into production sharing contracts with each other, secured licences to operate in the blocks after topping the​ Suriname SHO Bid Round 2020/2021.

“This award demonstrates our ability to capture exploration acreage in a core area for TotalEnergies, pursuing our strategy of exploring for low development cost oil resources in highly prospective basins, particularly here, reinforcing our operatorship position in Suriname Block 58,” said Kevin McLachlan, senior vice-president of exploration, outlined.

Kevin McLachlan, senior vice-president of exploration, TotalEnergies (File photo)

“We are delighted to continue to expand our strategic international partnership with Qatar Petroleum on these blocks,” he added.

Adjacent to Block 58 — where TotalEnergies has made four significant discoveries since January 2020 and where operations are continuing in 2021 — blocks six and eight are located in shallow water with depths between 30 metres and 50 metres.

With the addition of these two new blocks to its portfolio, TotalEnergies has expanded its foothold in a world-class emerging basin, where it will carry out 3-D seismic explorations to confirm the potential and capacity of both.

(Photo: TotalEnergies)

As per the production sharing contracts, TotalEnergies holds 40 per cent interest in the blocks, equivalent to the holdings of State-owned company Staatsolie, while Qatar Petroleum has a 20 per cent stake.