QatarEnergy has acquired a 20% stake in the Suriname block through a deal with Chevron, with Chevron as the operator maintaining a 40% stake, and Paradise Oil Company holding the remaining 40%. The block, located offshore Suriname, is moving into its second exploration phase, with commitments to drill an exploration well in water depths of 30-45m. Suriname's oil production, historically onshore, is transitioning to significant deepwater discoveries offshore, with projections of initial offshore oil production in about four years. The agreement underscores QatarEnergy's commitment to exploring Suriname's basins and marks a new partnership with Chevron in the international upstream sector.