Competition Intensifies for Suriname's Offshore Acreage

Suriname's state-owned oil company and regulator, Staatsolie, has received two new bids for offshore blocks in its open-door offering, which targets acreage in the prolific Guyana-Suriname basin. The round, opened in November 2025 and running for two years, allows companies to select their preferred available areas. The two proposals were submitted in the Demerara sector, located in the north-eastern section of the basin, though no additional details were disclosed. Under the open-door process, qualified companies can submit competing proposals for this sector during a 90-day period ending on 4 October 2026, after which Staatsolie will assess all offers and select a winner within 20 days.

Staatsolie has divided the open acreage into five sectors: three in shallow waters (SHO West, SHO Central, and SHO East), one in deep water (DW West), and the high-profile Demerara sector. Last month, one company submitted an offer in the DW West sector, with a qualification period running until 15 September 2026. Per the rules, Staatsolie will hold a carried participation interest of 20% in the SHO sectors and Demerara, and 10% in DW West throughout the exploration period. The company can also participate in the development and production period on a fully paid basis, according to production sharing contract terms.

Interest in Suriname is rising as exploration efforts yield success. Malaysia's Petronas, which is expected to make a final investment decision by year-end on the Sloanea-1 discovery in Block 52, has announced three additional finds in the area, now estimated to hold over 1 billion barrels of oil equivalent in recoverable resources. Currently, 17 offshore blocks are contracted in Suriname, operated by companies including TotalEnergies, Petronas, Shell, Chevron, APA Corporation, and PetroChina.