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Market Chatter: PetroChina Expects Drilling at Suriname Shallow-Water Blocks in 2027

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PetroChina, the Chinese energy major and subsidiary of China National Petroleum, expects drilling operations to begin next year at two shallow-water blocks in Suriname in which it holds interest, Reuters reported Wednesday.

The company has formulated an action plan and intends to focus on identifying drilling locations at the blocks this year, the report said, citing Li Guoyong, general manager of PetroChina's Suriname unit as saying at an energy conference.

In 2024, PetroChina secured production-sharing contracts for Blocks 14 and 15 through a bidding round. Staatsolie, the state-owned oil company of Suriname, holds a 30% interest in the areas through its unit Paradise Oil Company.

has reached out to PetroChina for a comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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