Oil & Gas

Malaysia’s state-owned energy company, Petronas, has announced another significant gas discovery at offshore Block 52 in Suriname.

Speaking at an energy conference on Tuesday, President Jennifer Simons described the find as positive news for the country, while Petronas executives revealed that the block’s eight successful discoveries now hold resources exceeding 1 billion barrels of oil equivalent.

The latest discovery strengthens Suriname’s ambitions to replicate the success of neighboring Guyana, which has rapidly become one of the world’s fastest-growing oil producers through offshore developments led by international energy companies.

Petronas is expected to make a final investment decision later this year on developing natural gas reserves in Block 52 after confirming the commercial viability of its Sloanea discovery, while exploration for additional oil resources continues.

According to Petronas Chief Operating Officer Mohd Jukris Abdul Wahab, the company has achieved eight successful exploration discoveries in the block, unlocking more than 1 billion barrels of oil equivalent. He noted that Block 52 lies within the highly prospective “Golden Lane” corridor, an area supported by favorable geological characteristics and sustained industry interest.

The company also emphasized its commitment to lower-carbon solutions, operational safety, technology investments, and long-term value creation for Suriname.

Meanwhile, Suriname is preparing for the first production from its offshore resources, with a consortium led by TotalEnergies targeting first output in 2028.

Energy Minister Patrick Brunings said the country continues to see encouraging exploration results and is positioning itself as both an oil and gas exporter. Through an open-door licensing round managed by Staatsolie, Suriname is offering more than 70,000 square kilometers of offshore acreage to attract further investment, with hopes that abundant gas resources could support future industries such as petrochemicals and bauxite processing while also serving growing global demand for reliable gas supplies.