What is the participating interest split for Block 52 between Petronas and POC?

Question

Accepted Answer

Block 52 Participating Interest Split Confirmed

Petronas holds an 80 per cent participating interest in Suriname's offshore Block 52, with Paradise Oil Company N.V. (POC) holding the remaining 20 per cent. This operational structure is in place as Petronas, through its subsidiary Petronas Suriname E&P B.V. (PSEPBV), has recorded significant discoveries and successful appraisals within the block. The partnership has led to the unlocking of substantial recoverable resources.
Petronas's Majority Stake

Petronas operates Block 52 with a substantial majority stake of 80 per cent. This significant interest underscores the company's commitment and investment in exploring and developing the hydrocarbon potential of this offshore region. The operational control allows Petronas to spearhead exploration and appraisal activities, as demonstrated by recent successful wells.
POC's Minority Interest

Paradise Oil Company N.V. (POC), a wholly-owned subsidiary of Staatsolie Maatschappij Suriname N.V. (Staatsolie), holds the remaining 20 per cent participating interest in Block 52. This arrangement signifies a collaborative effort in the exploration and potential development of the block's resources. POC's involvement represents a partnership with the national oil company of Suriname.
Context of Discoveries and Appraisals

The participating interest split is relevant in the context of recent operational successes in Block 52. Petronas has announced two discoveries and a successful appraisal, contributing to a total of eight successful wells in Suriname that have collectively unlocked more than one billion barrels of oil equivalent in recoverable resources. These achievements, including the Caiman-1, Swartzia Aspasia Complex-1 (SAC-1), and Roystonea-2 wells, validate the prospectivity of the block.

Reading history

Hide →

This history is cleared when the page is closed.

What is the participating interest split for Block 52 between Petronas and POC?

Loading

Was this article helpful?

Helpful

Not helpful

Report an issue

1

0

0

Share with friends