TotalEnergies (Paris:TTE) (LSE:TTE) (NYSE:TTE) and its partners QatarEnergy and Petronas have recently signed a production sharing contract for Block 64 in Suriname with Staatsolie Maatschappij Suriname (Staatsolie), the State-owned oil company.
Block 64 Awarded in Bid Round 2022-2023
Exploring the Vast Block 64
Spanning a vast area of 6,262 km² and located approximately 250 km from the shore, Block 64 holds immense potential for TotalEnergies and its partners.
TotalEnergies Expands its Presence in Offshore Suriname
Kevin McLachlan, Senior Vice President Exploration of TotalEnergies, expressed his delight in expanding the company's offshore presence in Suriname. TotalEnergies aims to focus on exploring for material low-cost and low-emission resources in core areas for the company. This new block aligns perfectly with their strategic objectives.
TotalEnergies' Operations in Suriname
In addition to Block 64, TotalEnergies operates Block 58 (50%) in Suriname, where they have already made five discoveries. Development studies are currently underway with the goal of sanctioning a 200,000 b/d oil project by the end of 2024. Moreover, TotalEnergies entered exploration blocks 6 and 8 as the operator (40%) alongside QatarEnergy (20%) and Paradise Oil Company (POC), a subsidiary of the national company Staatsolie (40%) in May 2023.
TotalEnergies is a global multi-energy company actively involved in producing and marketing various forms of energy. These include oil and biofuels, natural gas and green gases, renewables, and electricity. With a dedicated workforce of over 100,000 employees, TotalEnergies is committed to making energy more affordable, sustainable, reliable, and accessible to people worldwide. With operations in nearly 130 countries, the company prioritizes sustainable development in all its projects and operations to contribute to the well-being of individuals and communities.
TotalEnergies: A Leading Energy Company
The terms "TotalEnergies," "TotalEnergies company," or "Company" in this document refer to TotalEnergies SE and its subsidiaries. We may also use the words "we," "us," and "our" to describe these entities and their employees. It's important to note that the entities in which TotalEnergies SE holds a shareholding are separate legal entities.
This document provides forward-looking information and statements that are based on economic data and assumptions made in a specific economic, competitive, and regulatory environment. While we strive to provide accurate information, these statements may prove to be inaccurate in the future due to various risk factors. We want to emphasize that neither TotalEnergies SE nor any of its subsidiaries have an obligation to publicly update any forward-looking information or statements contained in this document.
For a comprehensive understanding of the risk factors that may affect TotalEnergies' financial results or activities, please refer to our most recent Registration Document filed with the French securities regulator Autorité des Marchés Financiers (AMF) and the Form 20-F filed with the United States Securities and Exchange Commission (SEC).
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