Malaysia’s state-controlled energy producer Petroliam Nasional Bhd (PETRONAS) has made another gas discovery at offshore Block 52 in Suriname, according to the South American nation’s President Jennifer Simons on Tuesday. A PETRONAS executive said the block’s eight discoveries now contain more than one billion barrels of oil equivalent.
Suriname is seeking to emulate neighbouring Guyana’s rapid rise as a major oil producer through offshore developments led by international energy companies.
PETRONAS is expected to make a final investment decision (FID) this year to develop offshore natural gas reserves in Suriname, following the declaration that its Sloanea discovery in the same block is commercially viable. The company has also been conducting further exploration for oil in the area.
“This is really good news for us,” Simons said at an energy conference, without providing further details. It “sets the base for multiple oil and gas developments and a brighter future for Suriname,” she added.
“To date, we have made eight successful exploration discoveries, unlocking over one billion barrels of oil equivalent, while continuing to advance lower-carbon solutions, safe operations and investment in people, technology and capability to create long-term value for the country,” said PETRONAS chief operating officer Mohd Jukris Abdul Wahab during the conference.
He added that Block 52 sits within a highly prospective corridor known as the “Golden Lane,” supported by strong regional analogues and sustained industry interest.
The first production from Suriname’s offshore resources is on track for 2028, led by a consortium headed by TotalEnergies, Oil Minister Patrick Brunings told Reuters on the sidelines of the conference.
Suriname’s state-owned energy company Staatsolie is also offering an open-door licensing round covering more than 70,000 square kilometres across five offshore sectors. The initiative allows companies to propose work programmes and secure production-sharing contracts or joint study agreements to improve seismic data coverage.
“There are a few more surprises in store,” Brunings said, referring to ongoing exploration activities. “If we find a lot of gas, we can establish various industries, such as the bauxite industry and the petrochemical industry.”
Following Guyana’s emergence as a major oil producer with output exceeding 900,000 barrels per day, Suriname is also positioning itself to develop offshore resources to produce and export crude oil and natural gas through projects led by international partners.
“We can also focus on gas exports,” Brunings added. “The whole world is now looking for reliable gas suppliers, and we believe we can play that role very well.”
