Chevron, Total-Qatar Petroleum win Suriname oil bids

Staatsolie refinery

Suriname’s state oil company Staatsolie said that Chevron and a consortium of France’s TotalEnergies SE and Qatar Petroleum submitted the most favorable bids to develop offshore oil blocks, Reuters reported.

Staatsolie is in the process of negotiating production-sharing contracts for Chevron for Block 5 and with the Total-Qatar Petroleum consortium for Blocks 6 and 8. Staatsolie in November invited companies to bid for exploration rights in eight offshore shallow water blocks.

Companies including Total and Malaysia’s Petronas have made hydrocarbon discoveries off the South American country’s coast. Neighboring Guyana has emerged as the world’s newest energy hotspot after oil production began in late 2019.