Staatsolie has announced that Chevron Suriname Exploration Limited will begin drilling this month on the exploration well, named Korikori-1. This well is located approximately 78 kilometers offshore, in the northern part of Block 5, at a water depth of approximately 40 meters. Block 5 is operated by Chevron (40%) in partnership with Paradise Oil Company (40%) and Qatar Energy (20%).
The National Environmental Authority (NMA) granted Chevron the permit for the drilling activities at the end of July 2025. The drilling will be carried out with the Noble Regina Allen drilling rig, which is scheduled to arrive in the first half of October. The drilling operations will last approximately 90 days and are intended to confirm the presence of hydrocarbons in the subsurface. After successful completion of the drilling and data collection, an initial indication of the quantity and quality of any hydrocarbons can be given.
The platform will be supplied from Surinamese port facilities ( shore base ), including fuel and consumables. Personnel will be flown to the platform from Paramaribo. This will help increase opportunities for local entrepreneurs and suppliers of goods and services to participate in Suriname's offshore oil and gas industry ( local content) .
Block 5 is located in the western part of Suriname's shallow offshore area and is part of the Suriname-Guyana Basin. The block covers an area of approximately 2,200 km² and lies between 45 and 82 kilometers offshore, north of the Nickerie district. The water depth varies between thirty and sixty meters.