Major Gas Development Approved in Suriname's Block 52

Staatsolie has approved the commercial declaration of the Sloanea gas discovery in Suriname's Block 52. Malaysia's Petronas holds an 80% stake in the area. A development plan with wells, infrastructure, and an LNG facility is anticipated, with a final decision expected by late 2026 and production by 2030.

Staatsolie, Suriname's state-run oil company, has given the green light for the commercial development of the Sloanea gas discovery, a promising prospect located in Block 52. The area is operated by Malaysia's Petronas, which maintains an 80% stake, with the remaining 20% held by Staatsolie's subsidiary, Paradise Oil Company.

The gas development plan outlined by Staatsolie highlights the inclusion of subsea infrastructure and a floating liquefied natural gas (LNG) facility, aimed to maximize the region's potential. Petronas is expected to present a comprehensive development strategy to Staatsolie, with aspirations for a final investment decision by the second half of 2026, and anticipate commencing gas output by 2030.

This move follows a production sharing contract initially signed in 2013, aimed at exploring Block 52's potential. So far, three discoveries have been made in the area, with confirmed reserves promising a significant boost to Suriname's energy sector.

(With inputs from agencies.)