PetroChina Sets Sights on Suriname Exploration

PetroChina is gearing up for exploration in Suriname, focusing on defining well locations in two shallow-water blocks. Drilling is set to commence in 2027. The company signed production sharing contracts in 2024, partnering with Staatsolie, which holds a 30% stake through Paradise Oil Company.

PetroChina, a leading Chinese energy company, is prioritizing exploration efforts in Suriname this year. The company is working on pinpointing well locations across two shallow-water blocks, with plans to begin drilling operations in 2027, according to the firm's head for the South American nation.

Li Guoyong, general manager of PetroChina's Suriname division, announced at an energy conference that a comprehensive operational plan has been developed, signaling the company's commitment to advancing its presence in the region.

The move follows the signing of production sharing contracts in 2024 for Blocks 14 and 15, secured through a competitive bidding process. Staatsolie, a state-run entity, maintains a 30% interest in these areas via its subsidiary Paradise Oil Company.