New oil field found off the coast of Suriname

Isbel Lázaro.
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Inspenet, November 11, 2023.

The Malaysian oil company Petronas has announced a major discovery. This is an oil field in the Roystonea-1 exploration well, which is part of Block 52, located in the waters near the coast of Suriname.

This achievement marks the second oil discovery made by Petronas in Block 52, with the first occurring in 2020, as reported by Petronas Suriname E&P and Staatsolie, Suriname’s state oil company. The Roystonea-1 well, which is located approximately 185 km from the coast, has been successfully drilled to a total depth of 5,315 meters.

Notably, the company has identified multiple oil-bearing sandstone deposits and is conducting additional evaluations to determine the full magnitude of this discovery. Petronas Suriname E&P is also considering potential development synergies with its previous 2020 discovery in the Sloanea-1 field, which is located on the same block.

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Block 52 covers an area of ​​4,749 km 2 and is located north of the coast of Paramaribo, the capital of Suriname, in the prosperous Suriname-Guyana oil basin. Petronas Suriname E&P is the operator of Block 52 with a 50% interest and also operates Block 48 at 100%.

It is important to highlight that deepwater oil production is considered one of the main options to help overcome the economic crisis in Suriname, which is currently implementing an economic recovery plan with the support of the International Monetary Fund (IMF).

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