Staatsolie Plans to Launch New E&P Round in 2008

Suriname's state oil company Staatsolie in March 2008 plans to launch a new E&P round for nearshore blocks, a company E&P division official told BNamericas.

Information is being reprocessed to generate data packages due to be released in January, the official said.

Staatsolie aims to award the blocks end-2008 or early 2009, the official said. Additional round details were not available due to the reprocessing work.

2006 ROUND

Staatsolie and US firm Murphy Oil are finalizing talks in the lead up to the signing of a production sharing contract (PSC) for offshore block 37, the official said. Signing will take place "very soon."

The state company offered blocks 15, 36 and 37 in its 2006 international bidding round, which also attracted Australia's Hardman Oil and China's Sino Petro New Energy Industrial Group. Hardman and Sino no longer are in the running for this round's blocks.


Exploration drilling of the Uitkijk onshore block is due to begin July 2 and at year-end for the Coronie onshore block, the official said.

An initial seven wells will be drilled at Uitkijk, while environmental and right-of-way permitting for Coronie is underway, the official said.

Staatsolie in February signed a PSC for the onshore blocks with its subsidiary Paradise Oil in a joint venture with Hardman, a subsidiary of independent Tullow Oil. The signing of the PSC followed 2.5 years of work, pre-dating the 2006 round.

The contract's duration is set at 25 years from the end of the year in which the development plan of the first commercial field in each block is approved.


Staatsolie's crude production at end-2006 totaled 4.8Mb from oilfields Tambaredjo and Calcutta. Average daily output last year was 13,160b compared to 11,990b in 2005.

Last year, a total of 139 new development wells were drilled, of which 98 were completed into production wells and 41 were plugged and abandoned. At end-2006, 975 wells were in production.

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