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Petronas signs PSC with Staatsolie
by hlk Sat 27 Apr 2013, 18:38
PARAMARIBO: Suriname's state oil company Staatsolie and Malaysia's
Petronas signed a production sharing contract on Friday for an offshore
bloc about 130 kms off the coast of the South American nation.
Staatsolie
said Petronas will invest US$25 million, drill at least one exploratory
well and conduct a 3D seismic survey of Block 52.
It said
Petronas's 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 per cent stake.
Last year, Staatsolie
signed a production sharing deal with Apache Corp of the US to invest
US$230 million in the exploration of a different offshore block.
Staatsolie,
founded in 1982, produces about 16,000 barrels of oil a day. Global
energy companies are showing growing interest in the potential of South
America's northeastern shoulder. A 2011 discovery off French Guiana was
described as a
"game-changer" for the region's oil prospects.-- Reuters
Petronas signed a production sharing contract on Friday for an offshore
bloc about 130 kms off the coast of the South American nation.
Staatsolie
said Petronas will invest US$25 million, drill at least one exploratory
well and conduct a 3D seismic survey of Block 52.
It said
Petronas's 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 per cent stake.
Last year, Staatsolie
signed a production sharing deal with Apache Corp of the US to invest
US$230 million in the exploration of a different offshore block.
Staatsolie,
founded in 1982, produces about 16,000 barrels of oil a day. Global
energy companies are showing growing interest in the potential of South
America's northeastern shoulder. A 2011 discovery off French Guiana was
described as a
"game-changer" for the region's oil prospects.-- Reuters
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