Petronas could deliver Suriname’s 2nd FID as early as next year

Managing Director of Staatsolie Annand Jagesar.

Suriname expects its second final investment decision in 2026 for the Petronas-operated Block 52.  Annand Jagesar, head of Suriname’s state oil firm Staatsolie made the announcement today during a presentation at the Guyana Energy Conference. 

Petronas hit pay at the Slonea-1 well; a significant amount of non-associated gas was discovered. “They tested the well and it was above expectation,” he said. 

Two other discoveries were also made in Block 52: Roystonea-1 and Fusaea-1. These were oil discoveries.  Petronas is being encouraged by a Letter of Agreement (LoA) signed with Suriname state oil firm, Staatsolie earlier this year. This promises a tax-free period of 10 years from the start of gas production. 

Rystad Energy sees Suriname’s first standalone gas project potentially materializing as early as 2031, at Block 52. As for Petronas’ Roystonea-1 and Fusaea-1 oil discoveries in this acreage, Head of Americas Upstream at Wood Mackenzie, Mark Oberstoetter, said the resources could support a processing capacity of 100,000 barrels per day (b/d) with a floating production, storage and offloading (FPSO) vessel. 

Petronas had hinted at a floating liquid natural gas (FLNG) project. FLNG involves extracting gas from a floating production platform, liquefying it, and storing it for transport in gas tankers.

Suriname’s first FID was made by TotalEnergies for the Gran Morgu project. 

Source: https://oilnow.gy/featured/petronas-could-deliver-surinames-2nd-fid-as-early-as-next-year/