SLB (SLB) said late Tuesday it will partner with Malaysian national oil and gas company Petronas to develop oil and gas projects in Suriname’s frontier basin; financial terms were not disclosed.
Petronas operates Suriname’s offshore Block 52 with an 80% stake, while the country’s state-owned oil company Staatsolie holds 20%.
The companies said the Subsea Integration Alliance – which comprises SLB OneSubsea (SLB) and Subsea7 (SUBCY) (ACGYF) – will provide full engineering, procurement, construction, installation and commissioning solutions for multiple discoveries in Suriname.
The scope of the agreement includes subsea production systems as well as subsea umbilical, riser, and flowlines components.
The agreement establishes a long-term framework for collaboration across the project lifecycle, enabling early involvement to co-develop and co-create cost-effective solutions, accelerate field development, and enhance project economics, the companies said.
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