Malaysian energy giant PETRONAS has reported two new discoveries in its offshore South American operations, pushing its total unlocked resources in the region past one billion barrels of oil equivalent (boe).
Operating through its subsidiary, PETRONAS Suriname E&P B.V., the company announced two new discoveries and a successful appraisal in the highly coveted Block 52.
The latest breakthrough brings the firm’s tally to eight successful wells in the country, cementing Suriname’s position as an emerging global deepwater hub in the lucrative Suriname-Guyana basin.
The drilling campaign yielded highly positive results across multiple targets. The Caiman-1 exploration well, drilled at a water depth of 90 metres, successfully struck multiple oil-bearing Cretaceous sandstone intervals.
Meanwhile, the Swartzia Aspasia Complex-1 (SAC-1) exploration well intersected gas-bearing reservoirs, with drill stem testing demonstrating strong gas deliverability and excellent reservoir quality.
Further validating the block’s immense potential, the Roystonea-2 appraisal well confirmed the lateral extent of existing oil reservoirs, showing robust oil productivity.
PETRONAS Upstream CEO Mohd Jukris Abdul Wahab praised the breakthroughs, highlighting the importance of the region.
“Block 52 sits within a highly prospective corridor, the Golden Lane, and we remain focused on translating this resource base into long-term value for Suriname and for PETRONAS,” Wahab said.
The consecutive wins follow a declaration of commerciality for the nearby Sloanea gas field last November, with a final investment decision expected by the end of this year.
They further strengthen the case for multiple oil and gas developments in Block 52 and Suriname’s emergence as a significant deepwater hub in the Suriname-Guyana basin.
PETRONAS holds an 80 per cent operating interest in Block 52, alongside partner Paradise Oil Company, a subsidiary of Suriname’s state oil firm Staatsolie.
