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Staatsolie Initiates Bidding Round for Eleven Blocks in Shallow Offshore Area

Unlocking New Energy Horizons: Shallow Offshore 2 Bid Round Announced by Staatsolie

Staatsolie Initiates Bidding Round for Eleven Blocks in Shallow Offshore Area

Today, Staatsolie has officially opened the bidding round for eleven blocks in the shallow offshore area, known as the “shallow offshore” region. This area is situated south of deepwater oil and gas discoveries and north of Staatsolie’s production fields in the Saramacca district. Water depths in this region range up to 150 meters.

This bidding round, named the “Shallow Offshore 2 Bid Round,” aligns with Staatsolie’s strategy to secure contracts for as much area as possible with international partners. The round has commenced with the authorization process for potential bidders.

Starting from December 18, 2023, geological data for the various blocks will be available for qualified parties to study. The bidding round will close on May 31, 2024, following which, in June 2024, blocks will be allocated through a selection process.

Staatsolie is investing significantly in analyzing all data from blocks in the Surinamese part of the Guiana Basin, aiming to achieve the status of “Masters of the basin.” This means Staatsolie is enhancing its ability to translate data into actionable information. This deeper understanding of geology allows for precise mapping of potential areas. The more successful Staatsolie is in this endeavor, the more successful the offshore bidding rounds will be, increasing the likelihood of discovering oil and/or gas reserves.

Blocks 5, 6, 7, and 8 in the shallow offshore area have been successfully awarded based on these analyses. As for the deepwater blocks in the Demerara area, a bidding round was concluded in May 2023. Currently, production sharing agreements are being finalized for three out of the six blocks.

Source: https://www.srherald.com/suriname/2023/11/07/staatsolie-start-aanbestedingsronde-voor-elf-blokken-in-ondiep-zeegebied/

Date: 7 november 2023

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Tags:  Bidding Rounds, Block 6, Shallow Offshore, Staatsolie Maatschappij Suriname NV 

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