Total, QP Win Suriname Blocks

Does every Qatar Petroleum (QP) deal provide a clue as to who will get a stake in its giant North Field LNG project? It is difficult to say. In the latest deal, TotalEnergies and QP have won two offshore exploration blocks in Suriname's offshore bid round (IOD Aug.18'20; LNGI Apr.6'21). The Deal QP said it will hold a 20% stake in the blocks with Total holding 40% and operatorship, while Suriname's national oil company Staatsolie will hold the remaining 40%. The consortium will explore shallow-water Blocks 6 and 8, which are adjacent to the prolific Block 58 discoveries. Located in the southern part of the waters off Suriname, close to the border with Guyana, Blocks 6 and 8 have water depths of 30 meters to 65 meters and cover a combined area of about 2,750 square kilometers (LNGI Jun.7'21). The Carrot The Qatari firm has used its massive North Field LNG expansion project as a carrot to forge upstream partnerships with companies such as Total, Royal Dutch Shell, Eni and Exxon Mobil. Qatar is offering a combined stake of up to 30% in the first phase of its LNG expansion and has short-listed six companies to become lead foreign partners: Exxon Mobil, Total, Royal Dutch Shell, ConocoPhillips, Chevron and Eni (LNGI May24'21). In recent years, QP has entered multiple upstream collaborations with major oil companies, including Brazil, Mexico, Guyana, Angola and Mozambique.