In a significant development for the Guyana-Suriname Basin, Chevron is poised to drill the Korikori-1 exploration well in Block 5, offshore Suriname this month. The announcement comes amid continuing ramp-ups in Chevron’s involvement in Guyana’s petroleum sector after its recent acquisition of Hess Corporation.
According to Staatsolie, Suriname’s national oil company, Chevron will begin drilling approximately 78 kilometres off Suriname’s coast in the north-central area of Block 5, in waters of about 40 metres. The well is expected to take around 90 days to complete.
The Noble Regina Allen rig is contracted to execute the drilling programme and is scheduled to arrive in early October. The permit for this operation was granted by Suriname’s National Environmental Authority in July 2025.
Chevron holds a 40 % operating stake in Block 5, with the remaining interests held by Paradise Oil Company (a Staatsolie affiliate) at 40 % and QatarEnergy at 20 %.
Block 5 spans roughly 2,200 to 2,235 square kilometres, lying between 45 and 82 kilometres offshore in shallow waters, making it a part of the wider Suriname-Guyana Basins region. Once drilling concludes, Chevron and its partners will undertake data analysis to assess any hydrocarbon presence and viable prospects.
Chevron’s operations in Guyana have received renewed attention following its completion of the acquisition of Hess Corporation in July 2025. Through this transaction, Chevron inherits Hess’s 30 % interest in the Stabroek Block- one of Guyana’s flagship offshore assets, operated by ExxonMobil. In its official release, Chevron emphasised that the Hess acquisition expands its global upstream portfolio with high potential in Guyana and other regions.
