Staatsolie Maatschappij Suriname N.V. (Staatsolie) is pleased to announce that on 11 November 2025 it formally approved the Commercial Field associated with the Sloanea-1 gas discovery, located in Block 52 offshore Suriname. This approval constitutes a significant milestone in the advancement of Suriname’s offshore petroleum resources and reaffirms the strong collaboration between Staatsolie and PETRONAS Suriname Exploration & Production B.V. (PETRONAS Suriname).
The Production Sharing Contract (PSC) for Block 52 was executed between Staatsolie and PETRONAS Suriname in 2013. Since that time, three hydrocarbon discoveries have been realized within the block. PETRONAS Suriname serves as the operator with an 80% participating interest, while the remaining 20% is held by Paradise Oil Company (POC), a wholly owned subsidiary of Staatsolie. The Sloanea-1 exploration well, drilled in late 2020, confirmed the presence of a gas-bearing reservoir.
Pursuant to the provisions of the PSC, Staatsolie and PETRONAS Suriname undertook a comprehensive evaluation of monetization options for the Sloanea-1 gas discovery, culminating in the execution of a gas addendum to the PSC. In 2024, PETRONAS Suriname proceeded with the appraisal of the reservoir through the drilling of the Sloanea-2 appraisal well, aimed at determining the reservoir’s areal extent and conducting detailed well testing. The results validated 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 discovery, thereby confirming its declaration of commerciality. The selected development concept encompasses gas development wells, subsea production infrastructure, and a floating LNG facility—representing the first deployment of such technology in the region.
PETRONAS Suriname will now initiate the preparation and submission of the Development Plan for Staatsolie’s review and approval. Upon approval, the parties will advance toward a Final Investment Decision (FID) for the development. With FID anticipated in the second half of 2026, first gas production is projected for 2030. This achievement marks yet another significant progression aligned with Staatsolie’s vision of Energizing a Bright Future for Suriname.
