PARAMARIBO SURINAME – Staatsolie has signed a production sharing contract (PSC) with PETRONAS Suriname E&P B.V. (PSEPBV) and Paradise Oil Company N.V. (POC) for Block 66.
The agreement was signed on June 17, 2025, on the sidelines of the ongoing Suriname Energy Oil and Gas Summit (SEOGS).
PETRONAS, through PSEPBV, now holds an 80% interest and is the operator of Block 66. Staatsolie, via its subsidiary POC, retains a 20% interest.
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“PETRONAS has committed to drilling two exploration wells located in promising parts of the Block during the first phase of the exploration period,” Staatsolie said.
The PSC was signed by Staatsolie Managing Director Annand Jagesar, PETRONAS Suriname Country Head Zamri Baseri, and POC Director Rekha Bissumbhar. Vice President of International Assets of Upstream PETRONAS, Mohd Redhani Abdul Rahman, attended the signing.
The deal strengthens Staatsolie’s partnership with PETRONAS to develop Suriname’s oil and gas potential. Block 66 covers approximately 3,390 square kilometers in the deep offshore. Water depths in the block range from 1,000 to 2,200 meters.
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It borders Block 52 to the south and Blocks 53 and 58 to the west—areas where discoveries have already been made. PETRONAS is now active in six offshore Suriname blocks: 48, 52, 53, 63, 64, and 66. It has made four oil and gas discoveries so far, with Block 52 undergoing intensive evaluation.
The Malaysian state-controlled company is considering an integrated development using a floating liquefied natural gas solution. Drilling will target Block 52, which spans 4,749 square kilometers north of Suriname’s coast.
In 2020, Petronas made a gas discovery in the block with the Sloanea-1 exploration well. The company drilled the Sloanea-2 appraisal well earlier this year to further assess the find.
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Last November, hydrocarbons were encountered at the Roystonea-1 exploration well in Block 52. Petronas also operates Block 48 with full ownership and holds a 30% non-operating interest in Block 53, where the Baja-1 oil discovery was made in 2022.
