Halliburton, PETRONAS Suriname Exploration & Production BV, and Valaris have entered into a strategic collaboration agreement to accelerate the development of PETRONAS Suriname’s local assets. The partnership brings Halliburton’s completion and production capabilities and Valaris’s offshore drilling expertise together early in the development lifecycle, aligning planning and execution for the Suriname assets.
The collaboration is positioned to strengthen project readiness and execution efficiency. By integrating Halliburton’s subsurface insight with Valaris’s well construction expertise, the partners aim to streamline operations and reduce time to production. The agreement expands Halliburton’s presence in the Suriname region and strengthens its relationship with a major national oil company, potentially opening additional opportunities for future service contracts in an area with growing deepwater potential.
Halliburton has a Mud and Cementing Plant in Suriname and plans to establish an operational base by May 2026 to support Block 58, the country’s first deepwater crude oil producer slated to start production in 2028. PETRONAS Suriname has made discoveries in Block 52 and expanded its footprint with new exploration blocks. Valaris will contribute its offshore drilling fleet, and the partnership coincides with Valaris’s announcement of a significant contract extension with Petrobras for its drillship VALARIS DS‑4 on the same day, underscoring its active engagement in South American offshore projects.
Shannon Slocum, COO of Halliburton, said, "This collaboration reflects PETRONAS Suriname's confidence in our early engagement approach and the ability to establish execution readiness from the outset. Our integration of subsurface insight with well construction expertise strengthens alignment throughout the development lifecycle and reinforces consistent, high-quality execution with PETRONAS Suriname and Valaris." The agreement signals Halliburton’s commitment to deepening its service footprint in the Guyana‑Suriname Basin and positions the company to capture future growth as the region moves toward commercial production.
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