QatarEnergy joins Chevron in exploration offshore Suriname

QatarEnergy acquired a 20% interest in shallow-water Block 5 offshore Suriname, following Shell's departure from the block, according to a July 18 Staatsolie news release. 

Chevron operates with a 40% share, with Staatsolie subsidiary Paradise Oil Co. holding the remaining 40%.

The partnership plans to drill an exploration well in 2025.

Block 5 is 75 km from the coast in 30 m to 45 m water depth.