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Staatsolie has announced the launch of a competitive bid round of six new blocks in the currently sparsely explored Demerara acreage of Suriname. The blocks are located east to the current offshore discoveries and have a water depth varying from 400 to 3500 meters.
Staatsolie has signed a production sharing contract with Chevron for offshore Block 5. The block was offered as part of the SHO Bid Round 2020/2021, which was announced in November 2020.