Rystad Energy estimates that Suriname’s Block 52 holds an estimated 500 million equivalent barrels of oil equivalent resources, according to a new report.
Petronas holds 100% of the working interest in Block 52 after its partner, ExxonMobil pulled out last year.
Block 52 covers an area of 4,749 square kilometers and is located north of Suriname’s coast. In 2020, a gas discovery was made in this block with the Sloanea-1 exploration well. PETRONAS is further investigating the gas discovery, including drilling the Sloanea-2 appraisal well earlier this year.
Additionally, a Letter of Agreement (LoA) was signed with the contractor on March 4, 2024, to further explore the discovery. The LoA offers a 10-year tax holiday to incentivize gas development, among other things.
PETRONAS also announced significant discoveries at the Roystonea-1 and Fusaea-1 exploration wells in November 2023 and May 2024.
An investment decision for Block 52 would be the second in Suriname following one such decision by TotalEnergies and APA for the Gran Morgu oil project in the nearby Block 58.
In addition to Block 52, PETRONAS Suriname also operates Block 48 with a 100% participating interest and holds a 30% non-operating participating interest in the adjacent Block 53, where the Baja-1 oil discovery was made in 2022.
