Petronas to File Development Plan for Suriname’s Sloanea Discovery

Suriname’s state-owned oil and gas company Staatsolie Maatschappij Suriname NV (Staatsolie) has declared the Sloanea-1 well in the offshore Block 52 a commercial natural gas discovery and said operator Petroliam Nasional Bhd (Petronas) would now submit a development plan that includes a liquefied natural gas (LNG) facility.

“With FID [final investment decision] planned in the second half of 2026, Suriname may expect first gas to flow in 2030”, Staatsolie said.

Sloanea-1 is Petronas’ first hydrocarbon discovery in the South American country. It announced the discovery December 11, 2020, after drilling into 4,780 meters using the Maersk Developer rig.

The partners had considered Sloanea-1 “commercially unattractive”. They agreed to drill an appraisal well and negotiate a “gas addendum” that would lay out the terms for assessing how to develop the discovery, as announced by Staatsolie’s March 4, 2024.

“In accordance with the PSC [the production sharing contract signed April 2013], Staatsolie and Petronas Suriname evaluated monetization options for this gas discovery [Sloanea-1], resulting in a gas addendum to the PSC”, Staatsolie said announcing the declaration of commerciality (DOC). “In 2024, Petronas Suriname advanced the appraisal of the Sloanea reservoir by drilling the Sloanea-2 appraisal well to assess its lateral extent and conduct comprehensive well testing. This confirmed the field’s gas in place and recoverable volumes.

“On 11 November 2025, Staatsolie approved the delineation of the commercial field for the Sloanea-1 gas discovery, signifying its ‘declaration of commerciality’.

“The selected development concept includes gas development wells, subsea infrastructure and a floating LNG facility, a first in the region”.

Malaysia’s state-owned Petronas said separately the DOC marks “Suriname’s first gas development milestone in its expanding deepwater energy landscape”.

Petronas has made two more discoveries offshore Suriname, all in Block 52: Roystonea-1 in 2023 and Fusaea-1 and Sloanea-2 in 2024.

Block 52 spans over 4,700 square kilometers (1,814.68 square miles) north of the coast of Paramaribo, according to Petronas. 

Exxon Mobil Corp exited Block 52 last year by selling its 50 percent stake to Petronas.

Petronas operates the block with an 80 percent stake. Staatsolie’s Paradise Oil Co NV (POC) owns 20 percent.

Recently Petronas signed two new PSCs in Suriname. Petronas has secured 30 percent in Block 9 as operator through Petronas Suriname E&P BV. Chevron holds 20 percent through Suriname Exploration Ltd, state-owned QatarEnergy 20 percent through QatarEnergy International E&P LLC and POC 30 percent, Staatsolie said in a press release November 5.

Chevron has obtained operatorship of Block 10 with a 30 percent interest. Petronas has 30 percent. QatarEnergy 30 percent and POC 10 percent.

The two leases sit in shallow waters about 50 kilometers (31.07 miles) from the Saramacca coast. The water depth is up to 50 meters (164.04 feet). 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 said in its own statement it now holds stakes in eight blocks offshore Suriname. Block 9 and 10 “mark a significant milestone in Petronas’ continued expansion in the Suriname-Guyana Basin, a region recognized globally for its hydrocarbon potential”, Petronas said.

Petronas noted both blocks are “strategically located between proven deepwater discoveries and onshore producing fields”.

Earlier this year Petronas signed a PSC for Block 66, which covers about 3,390 square km in deep waters next to Block 52, which contains the Fusaea, Roystonea and Sloanea discoveries.

“Building on this strong foundation, Petronas is optimistic that the positive momentum and learnings from Block 52 will carry over into Block 66 as it continues to explore and unlock the hydrocarbon potential of the area”, Petronas said June 18.

“The PSC includes a firm commitment to drill two exploration wells, targeting drill-ready prospects that offer significant resource potential and are strategically positioned to unlock synergies with Petronas’ existing operations in Suriname”.

Petronas operates Block 66 with an 80 percent stake. POC owns 20 percent.

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