Fossil Energy
Suriname’s offshore story just got bigger.
Block 52 was already declared commercially viable for gas. Now Petronas is testing it for oil.
Staatsolie Managing Director Annand Jagesar told Reuters the company hopes to reach a declaration of commerciality on oil within the next 18 months. If crude proves viable alongside the Sloanea gas discovery, Suriname could see the parallel development of offshore oil and gas for export.
The Sloanea gas discovery is expected to lead to a large development including floating LNG facilities, with a final investment decision from Petronas and Staatsolie later this year and first gas by 2030. That would make Suriname an LNG exporter before the end of the decade.
Meanwhile, the $10.5 billion Gran Morgu project operated by TotalEnergies remains on track for first oil in 2028.
To keep momentum going, Staatsolie has launched an open-door licensing round covering over 70,000 square kilometres across five offshore sectors, expecting to attract three to four new investors over the next two years.
Oil and gas. Two parallel export streams. For a country of fewer than 700,000 people, the scale of what is forming offshore is extraordinary.
