The Malaysian state-controlled company PETRONAS has officially confirmed the latest offshore gas discovery in Suriname within the region’s Block 52. During a recent energy conference, Suriname President Jennifer Simons announced the find, which marks a continuing trend of successful offshore exploration in the South American nation. Executives from the operating firm revealed that the eight successful offshore exploration discoveries made in this specific block to date represent a resource base exceeding one billion barrels of oil equivalent. With this offshore gas discovery, Suriname is following its neighbouring country Guyana to become a major producer with offshore developments through international companies.
Resource Potential and Commercial Viability
PETRONAS is currently moving toward a final investment decision regarding the development of its natural gas reserves in Suriname. This follows the previous declaration of the Sloanea discovery as a commercially viable project within the same block. PETRONAS chief operating officer Mohd Jukris Abdul Wahab stated that Block 52 is positioned within a highly prospective corridor known as the Golden Lane.
“To date, we have made eight successful exploration discoveries, unlocking over more than one billion barrels of oil equivalent, while continuing advancing lower-carbon solutions, safe operations and investment in people, technology and capability to create long-term value for the country,” he added.
Strategic Expansion and National Economic Impact
According to Suriname’s Oil Minister Patrick Brunings, the first output from the nation’s offshore resources, managed by TotalEnergies-led consortium, is currently scheduled to begin in 2028. To further stimulate oil and gas developments, Suriname’s state-run energy firm Staatsolie is conducting an open-door licensing round covering more than 70,000 square kilometers across five offshore sectors. This initiative is supported by a strategy that allows international companies to propose work programs and secure production-sharing contracts.
Following Guyana’s example of becoming a prominent oil producer with over 900,000 barrels per day (bpd) capacity, Suriname is also eyeing offshore development to produce and export crude and gas through projects led by large foreign producers.
