Suriname has reportedly concluded talks with a delegation from the Malaysian-owned energy multinational, Petronas, following which Guyana’s South American neighbour unveiled its plans for a possible oil project in Block 52 off the Surinamese coast. A November 12 Barbados Nation article says that Petronas is expected to carry out two further exploration drillings before the ‘green-lighting’ of the final investment decision comes.
Suriname’s latest major oil recovery disclosure comes less than two months after its disclosure of “development studies for a large oil project offshore the country” which is scheduled to commence before year end and which it says is expected to position the country for first production in 2028. The studies are being done, the report said “ahead of a US$9-billion investment into Suriname’s nascent oil industry which is expected to start first production in 2028. Last week, Petronas disclosed that it had made a second significant oil discovery following the drilling of the Roystonea-1 exploration in Block 52. In the same block a significant amount of natural gas had also been discovered.
During a meeting with Suriname President, Chan Santoki, Petronas executives gave a presentation regarding the recent oil discoveries during which the company’s Chief Operating Officer Adnan Zainal Abidin, highlighted the favourable results of the discoveries and explorations in Suriname. The company is reportedly contemplating “at least two more drillings next year to collect more data for field plans and to conduct detailed studies that can hopefully lead to a final investment decision,” the Petronas COO is quoted as saying.
