A subsidiary of Malaysia’s state-owned energy giant PETRONAS and Suriname’s national oil company (NOC) Staatsolie Maatschappij Suriname (Staatsolie) have achieved a milestone allowing them to move forward with the development of a gas field offshore Suriname.
The milestone – the declaration of commerciality (DoC) of the Sloanea field in Block 52 – confirms the project’s readiness to progress from discovery towards development, subject to the final investment decision (FID).
According to PETRONAS, the DoC builds on the momentum from the Sloanea-1 exploration in 2020 while underscoring both parties’ confidence in the hydrocarbon potential of Suriname’s offshore basin and their shared commitment to unlock the country’s deepwater potential.
PETRONAS Vice President of International Assets of Upstream, Mohd Redhani Abdul Rahman , remarked: “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 Suriname will now proceed with drafting and submitting the development plan for Staatsolie’s approval. After this, the FID is planned in the second half of 2026, with first gas to follow in 2030.
PETRONAS signed the PCS for Block 52 in 2013, making three discoveries within the block since then. The company holds an 80% participating interest in the field, while the remaining 20% is held by Paradise Oil Company (POC), a subsidiary of Staatsolie.
The duo evaluated monetization options for this gas discovery, resulting in a gas addendum to the PSC. In 2024, the Sloanea-2 appraisal well was drilled to assess its lateral extent and conduct comprehensive well testing, confirming the field’s gas-in-place and recoverable volumes.
According to Staatsolie, the selected development concept includes gas development wells, subsea infrastructure, and a floating LNG (FLNG) facility, said to be the region’s first. Wison New Energies was recently picked to conduct a detailed feasibility study (DFS) for the field’s newbuild FLNG facility .
PETRONAS holds interests in eight offshore blocks in Suriname: Blocks 9, 10, 48, 52, 53, 63, 64, and 66. The PSC for Block 66 was signed in June 2025.