PETRONAS Unlocks Over 1 Billion Barrels Offshore Suriname

PETRONAS has recorded two new discoveries and a successful appraisal in Suriname's offshore Block 52, taking its tally in the country to eight successful wells and unlocking recoverable resources of more than one billion barrels of oil equivalent. The Caiman-1 well struck multiple oil-bearing intervals, the Swartzia Aspasia Complex-1 well intersected gas-bearing reservoirs with strong deliverability, and the Roystonea-2 well confirmed the extent of an oil-bearing system. The results strengthen the case for multiple developments in the block and reinforce Suriname's emergence as a significant deepwater hub in the Suriname-Guyana basin.

 

Details of the New Wells

 

The drilling campaign delivered results across three separate wells in Block 52. The Caiman-1 exploration well was drilled in 90 metres of water to a total depth of 5,065 metres. It encountered multiple oil-bearing Cretaceous sandstone intervals, pointing to a productive section of the block. This outcome adds to the oil potential identified across the licence. The well forms one of two fresh discoveries announced in the latest update.

The second discovery came from the Swartzia Aspasia Complex-1 well, located in deeper water to the east. Drilled in 610 metres of water to a depth of 4,560 metres, the well sits 8 kilometres east of the Sloanea-1 gas discovery. It intersected gas-bearing sandstone reservoirs, and drill stem testing demonstrated strong gas deliverability. These results indicate good reservoir quality and reinforce the gas potential in this part of the block.

 

Appraisal Results and Reservoir Quality

 

The campaign also included a successful appraisal well that built on an earlier discovery. The Roystonea-2 appraisal well was drilled 7 kilometres north of the original Roystonea-1 well. Its purpose was to test how far the oil-bearing reservoirs extended across the area. The well confirmed the lateral extent of those reservoirs, an important step in assessing their commercial scale. This provided greater confidence in the size of the resource.

Testing at the appraisal well reinforced the quality of the reservoir system. Drill stem testing results indicated strong oil productivity from the formations encountered. This validated both the quality and the extent of the reservoir system across the appraised area. Confirming productivity through testing is a key part of moving a discovery toward development. The results help establish whether the resource can be produced at commercial rates.

 

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Block Ownership and Partnership

 

Block 52 is held through a partnership between PETRONAS and a Surinamese state-linked company. PETRONAS operates the block with an 80 percent participating interest through its subsidiary PETRONAS Suriname E&P B.V. The remaining 20 percent is held by Paradise Oil Company, a subsidiary of the state company Staatsolie. This structure pairs the operator's technical capability with national participation in the resource. The arrangement reflects a common model for deepwater exploration involving host-country entities.

The block forms part of a broader portfolio that PETRONAS holds across the country. The company currently has interests in eight offshore blocks in Suriname, covering Blocks 9, 10, 48, 52, 53, 63, 64 and 66. This footprint gives the operator significant exposure to the country's offshore acreage. Company leadership highlighted the strength of its technical capabilities, disciplined execution and partnership in achieving the results. They also acknowledged the support and collaboration provided by Staatsolie.

 

Path to Development

 

The recent successes build on progress already made toward production in the block. Commerciality was declared for the Sloanea gas field in November 2025, marking an earlier step toward development. A final investment decision on that field is targeted by the end of this year. Reaching such a decision would move the project from appraisal into the development phase. The latest results add further weight to the case for proceeding.

The discoveries strengthen the prospect of multiple developments within Block 52. PETRONAS leadership described the block as sitting within a highly prospective corridor known as the Golden Lane. The company said it remained focused on translating the resource base into long-term value for both Suriname and itself. The combination of oil and gas discoveries broadens the range of potential development options. This supports the wider ambition of establishing the area as a deepwater production centre.

 

Local Investment and Shared Value

 

PETRONAS has paired its exploration activity with commitments to local development. The company framed its work in Suriname around building local capability and developing human capital. It emphasised an intention to create shared value for both nations involved. This focus extends the relationship beyond resource extraction alone. It positions the company's presence as part of a broader contribution to the host country.

One element of this commitment involves education and skills development. PETRONAS has awarded scholarships to seven Surinamese students now in their first semester at Universiti Teknologi PETRONAS in Malaysia. These students form the first cohort from Suriname to study at the institution under the company's scholarship programme. Such initiatives are intended to build long-term local expertise. They reflect an effort to link resource development with capacity building in the host nation.