PETRONAS Expands Deepwater Portfolio in Suriname with Block 66 PSC

PARAMARIBO, June 18 (Bernama) -- PETRONAS, through its wholly-owned subsidiary PETRONAS Suriname E&P B.V. (“PSEPBV”), has signed a Production Sharing Contract (PSC) for Block 66, located in the deepwater region offshore Suriname. The agreement was signed with Staatsolie Maatschappij Suriname N.V. and Paradise Oil Company N.V. (POC), a wholly-owned subsidiary of Staatsolie. Under the PSC, PETRONAS holds the operatorship with 80 per cent participating interest, while POC holds the remaining 20 per cent.

Spanning approximately 3,390 square kilometres, Block 66 lies directly adjacent to Block 52 in the deepwater region offshore Suriname, where PETRONAS has recorded a series of exploration and appraisal successes. Building on this strong foundation, PETRONAS is optimistic that the positive momentum and learnings from Block 52 will carry over into Block 66 as it continues to explore and unlock the hydrocarbon potential of the area.