Staatsolie Maatschappij Suriname N.V. (Staatsolie) is pleased to announce its approval on 11 November 2025 of the Commercial Field for the Sloanea-1 gas discovery, located in Block 52 offshore Suriname. This achievement represents a significant step forward in developing Suriname’s offshore petroleum resources and underscores the continued collaboration between Staatsolie and PETRONAS Suriname Exploration & Production B.V. (PETRONAS Suriname).
Staatsolie and PETRONAS Suriname signed the Production Sharing Contract (PSC) for Block 52 in 2013. Since then, three discoveries have been made in this block. PETRONAS Suriname is the operator of Block 52, holding an 80% participating interest while the remaining 20% participating interest is held by Paradise Oil Company (POC), a Staatsolie subsidiary. In late 2020, the Sloanea-1 exploration well was drilled, which encountered a gas-bearing reservoir.
In accordance with the PSC, Staatsolie and PETRONAS Suriname evaluated monetization options for this gas discovery, resulting in a gas addendum to the PSC. In 2024, PETRONAS Suriname advanced the appraisal of the Sloanea reservoir by drilling the Sloanea-2 appraisal well to assess its lateral extent and conduct comprehensive well testing. This confirmed the field’s gas-in-place and recoverable volumes. On 11 November 2025, Staatsolie approved the delineation of the Commercial Field for the Sloanea-1 gas discovery, signifying its ‘declaration of commerciality’. The selected development concept includes gas development wells, subsea infrastructure, and a floating LNG facility, a first in the region.
PETRONAS Suriname will now proceed with drafting and submitting the Development Plan for Staatsolie’s approval. Following this, parties will declare their Final Investment Decision (FID) for this gas field. With FID planned in the second half of 2026, Suriname may expect first gas to flow in 2030. Another major milestone, aligned with Staatsolie’s vision of Energizing a Bright Future for Suriname.
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