KUALA LUMPUR: National oil and gas company Petronas has announced that a natural gas project in Suriname has been deemed commercially viable.
The declaration of commerciality (DoC) for the Sloanea field in Block 52, made together with its wholly owned subsidiary Petronas Suriname E&P B.V. and its South American partner Staatsolie Maatschappij Suriname NV, signifies that the project is now ready to move into the development phase.
Petronas said in a statement today that this marks Suriname’s first gas development milestone in its expanding deep-water energy landscape.
"The DoC confirms the project’s readiness to progress from discovery towards development, subject to the final investment decision.
"It builds on the positive momentum from the Sloanea-1 exploration success in 2020 while underscoring both parties’ confidence in the hydrocarbon potential of Suriname’s offshore basin and the shared commitment to unlock Suriname’s deep-water potential,” it said.
Petronas vice-president of international upstream assets, Mohd Redhani Abdul Rahman, said the DoC of Sloanea-1 affirms the field’s economic feasibility towards its development and commercialisation.
This milestone underscores the robust collaboration and mutual trust between Petronas and Staatsolie, founded on technical proficiency, environmental stewardship and a commitment to delivering shared benefits for the people of Suriname.
Petronas entered into a production sharing contract for Block 52 in 2013 and has since achieved three significant discoveries within the block.
Petronas is the operator of Block 52 with 80 per cent participating interest, while the remaining 20 per cent is held by Paradise Oil Company, a Staatsolie subsidiary.
It currently holds interests in eight offshore blocks in Suriname, Blocks 9, 10, 48, 52, 53, 63, 64 and 66, strengthening its position as a committed partner in Suriname’s energy growth agenda. - Bernama
