Block 52 Suriname

CapPro Reference: CP-04270
Originally Posted: 21/05/2024
Sector: Oil - Upstream
Project Status: Under construction
Project Owner: Petronas
Location: Latin America - Suriname, Paramaribo

Project Profile: Petronas Suriname E&P a subsidiary of Petronas , has made a third hydrocarbon discovery in Block 52 at the Fusaea-1 exploration well in Suriname’s Block 52, located about 170 kms offshore and 9 kms east from Roystonea-1. The well was spudded in Feb 2024 and successfully drilled to a total depth of 5,227 m with zero (0) LTI, encountering several oil and gas-bearing Campanian sandstone reservoir packages. Further evaluation is being undertaken to determine the full extent of this discovery and its potential for an integrated development with the recent Roystonea-1 and Sloanea-1 discoveries.

The company's vice president of exploration, Mohd Redhani Abdul Rahman said: "The success of Fusaea-1 is a testament to the advancements in our geological comprehension of this region, bolstered by recent breakthrough in Roystonea-1 and Sloanea-1. These discoveries have significantly expanded the prospectivity and integrated oil and gas development potential within Block 52. In pursuit of sustainable and high-value material resource, Petronas remains committed in its exploration activities in selected focus regions as part of its portfolio rationalisation efforts." Block 52, which covers an area of 4,749 sq km, is located north of the coast of Paramaribo, Suriname’s capital city, within the prospective Suriname-Guyana basin. Petronas Suriname E&P is the operator of Block 52 with a 50 percent participating interest together with ExxonMobil.

As of November 2024, ExxonMobil Exploration & Production Suriname B.V. has formally notified Staatsolie that it will withdraw from Block 52, effective 14 November 2024. This withdrawal is part of ExxonMobil's ongoing evaluation of assets in its global portfolio. ExxonMobil is transferring its fifty percent working interest to Petronas Suriname E&P B.V.. With this transfer, Petronas now holds a 100 percent working interest in Block 52. Operations in Block 52 will continue as usual.

Sources: petronas.com & www.staatsolie.com