Petronas Makes New Discoveries offshore Suriname
Petroliam Nasional Bhd (Petronas) has announced two new discoveries and a successful appraisal well in Block 52 off the Atlantic coast of Suriname.
Malaysia's national oil and gas company said in a press release it has now drilled eight successful wells with combined recoverable resources of over one billion barrels of oil equivalent in the South American country.
"The Caiman-1 exploration well, drilled in 90 meters [295.28 feet] of water to a total depth of 5,065 meters, encountered multiple oil-bearing Cretaceous sandstone intervals", Petronas said.
"The Swartzia Aspasia Complex-1 (SAC-1) exploration well, located 8 kilometers [4.97 miles] east of Sloanea-1 gas discovery in 610 meters of water depth, and drilled to a total depth of 4,560 meters, intersected gas-bearing sandstone reservoirs. Drill stem testing (DST) demonstrated strong gas deliverability, indicating good reservoir quality.
"The Roystonea-2 appraisal well, drilled 7 kilometers north of Roystonea-1 [discovered 2023], confirmed the lateral extent of oil-bearing reservoirs, with DST results indicating strong oil productivity, further validating the quality and extent of the reservoir system".
The new successes "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 said.
Petronas chief operating officer Mohd Jukris Abdul Wahab said, "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".
Petronas expects to make a final investment decision on its first hydrocarbon discovery in Suriname, Sloanea-1, this year.
Block 52 spans over 4,700 square kilometers (1,814.68 square miles) north of the coast of Paramaribo, according to Petronas.
Operator Petronas increased its stake to 80 percent after acquiring Exxon Mobil Corp's 50 percent interest in 2024. Suriname's state-owned Staatsolie Maatschappij Suriname NV owns 20 percent through Paradise Oil Co NV.
Last year Petronas obtained two new production sharing contracts (PSCs) in Suriname. Petronas has secured 30 percent in Block 9 as operator and a 30 percent non-operating stake in Block 10, Staatsolie announced November 5.
The leases sit in shallow waters about 50 kilometers from the Saramacca coast. Block 9 spans more than 2,600 sq km while Block 10 covers nearly 3,000 sq km. Each license lasts 30 years, Staatsolie said.
"By signing these PSCs, the parties involved obtain the exclusive rights for exploration, development and production in the respective blocks", Staatsolie said. "The initial phase of the exploration period will last three years, during which the focus will be on acquiring and processing 3D seismic data to map the subsurface structure".
Petronas noted both blocks are "strategically located between proven deepwater discoveries and onshore producing fields".
According to Petronas' announcement of the latest discoveries, it currently participates in eight offshore blocks in Suriname: blocks 9, 10, 48, 52, 53, 63, 64 and 66.
To contact the author, email jov.onsat@rigzone.com
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