Fossil Energy – Commercial Field Approval
Staatsolie Maatschappij Suriname has approved the Commercial Field for the Sloanea-1 gas discovery in Block 52 offshore Suriname.
The decision was made on November 11, 2025, representing a major advancement in the country’s offshore petroleum development.
Staatsolie said the approval follows years of collaboration between the state oil firm and PETRONAS Suriname Exploration & Production, the operator of Block 52. PETRONAS holds an 80% participating interest, while Staatsolie’s subsidiary, Paradise Oil Company (POC), holds the remaining 20%.
The Sloanea-1 well was drilled in late 2020 and encountered a gas-bearing reservoir. “This achievement represents a significant step forward in developing Suriname’s offshore petroleum resources,” Staatsolie stated.
The approved concept includes gas development wells, subsea infrastructure, and a floating Liquefied Natural Gas (LNG) facility, the first of its kind in the region. PETRONAS Suriname will now prepare and submit the Development Plan for Staatsolie’s review.
A Final Investment Decision (FID) is expected in the second half of 2026, with first gas anticipated by 2030.
