Project Profile
Value: US$25 million
Location: About 130 kms (80 miles) off the coast of the Suriname
Start-up Year: -
Staatsolie and PETRONAS signed a production sharing contract on Friday 26th April 2013 for an offshore block about 130 kms (80 miles) off the coast of the South American nation. PETRONAS will invest US$25 million, drill at least one exploratory well and conduct a 3D seismic survey of Block 52. PETRONAS\' costs would be reimbursed if the Malaysian company developed a commercial discovery, in which case, Staatsolie would have the option to participate with a 20% stake. Petronas operates the block with a 60% stake, which is considered to have high-impact potential in Upper Cretaceous strata.
Operators:
Petronas: Operator with 60% interest
RWE Dea AG: 40% interest
Staatsolie: Option to participate with 20% interest