PETRONAS and Staatsolie declare the Sloanea field commercial, marking Suriname’s first major deepwater gas development step and advancing its offshore energy ambitions.
PETRONAS, through its wholly owned subsidiary PETRONAS Suriname E&P B.V. (PSEPBV), together with Staatsolie Maatschappij Suriname N.V. (Staatsolie), has reached a key milestone in Suriname’s journey toward developing its offshore energy resources. The two companies have officially declared the Sloanea field in Block 52 commercially viable, marking Suriname’s first major step toward establishing a dedicated gas development in the country’s Deepwater Sector. This Declaration of Commerciality (DoC) not only validates the potential of the discovery but also represents a significant advancement for Suriname as it works to position itself as a rising player in the broader Suriname–Guyana Basin.
The DoC signifies that the Sloanea field has met the criteria necessary to progress beyond the exploration stage and move toward full-scale development, pending a final investment decision (FID). This milestone builds upon the momentum generated by the successful Sloanea-1 exploration well drilled in 2020, which initially confirmed the field’s promising hydrocarbon prospects. By advancing the project from discovery to pre-development, PETRONAS and Staatsolie are demonstrating their confidence in the geological potential of Suriname’s deepwater acreage and their shared ambition to accelerate the nation’s emerging energy future.
Mohd Redhani Abdul Rahman, PETRONAS Vice President of International Assets, Upstream, emphasized the importance of this achievement for both partners. He noted that the Declaration of Commerciality reinforces the economic viability of the Sloanea field and highlights the strong working relationship built on technical excellence, environmental responsibility, and long-term value creation. According to him, this progress reflects the companies’ mutual commitment to ensure that Suriname’s offshore resources deliver sustainable benefits for its people and economy.
PETRONAS’ involvement in Suriname dates back to 2013, when it first signed the Production Sharing Contract (PSC) for Block 52. Over the years, exploration efforts within the block have yielded three significant discoveries, with Sloanea being among the most promising. As the operator of Block 52, PETRONAS holds an 80 percent participating interest, while the remaining 20 percent is held by Paradise Oil Company (POC), a subsidiary of Staatsolie. This partnership structure underscores the collaborative approach behind Suriname’s offshore development strategy.
Beyond Block 52, PETRONAS has built a broad presence in the country’s offshore sector. The company currently holds interests in eight offshore blocks — 9, 10, 48, 52, 53, 63, 64, and 66 — reinforcing its long-term commitment to Suriname’s energy growth. This expanding portfolio positions PETRONAS as a key participant in shaping the country’s future as it develops its deepwater gas and oil potential.
Overall, the Declaration of Commerciality of the Sloanea field highlights PETRONAS’ strategy of pursuing high-value growth through strong partnerships and technical expertise. For Suriname, it represents an essential milestone as the nation moves closer to building a robust deepwater gas industry and strengthening its role within the rapidly evolving Suriname–Guyana Basin.
