Nov 5 (Reuters) -

Two consortia led separately by Malaysia's Petronas

and U.S. Chevron have signed

production-sharing contracts with Suriname's Staatsolie to

explore and develop two offshore areas in the South American

country, the state company said on Wednesday.

Under the 30-year contracts, Staatsolie will conduct a

competitive process to select foreign companies to explore and

produce oil and gas in those areas if reserves are confirmed.

Suriname is expected to inaugurate offshore output soon through

a $12 billion project operated by TotalEnergies.

The consortia also include QatarEnergy and Paradise Oil

Company, Staatsolie said in a release.

A Petronas unit will operate Block 9, while Chevron ( CVX ) will

operate Block 10. The shallow-water blocks are located some 50

kilometers (31 miles) from Suriname's coast of Saramacca.

"The initial phase of the exploration period will last

three years, during which the focus will be on acquiring and

processing 3D seismic data to map the subsurface structure,"

Staatsolie added.