Chevron (CVX), QatarEnergy Partner Over Suriname Block 5 PSC

Chevron Corporation (CVX) has entered into an agreement with QatarEnergy for the latter to acquire a 20% interest in a production sharing contract (PSC) in Block 5 offshore Suriname. Per the terms of the agreement, Chevron will retain 40% interest in the block. The remaining 40% will be owned by Paradise Oil Company, an affiliate of Suriname's national oil company, Staatsolie. Chevron is the operator of Block 5. The water depth at the site lies in the range of 98-145 feet. The financial details of the trans ...