PETRONAS and Staatsolie Declare Commerciality for Sloanea Field, Marking Suriname’s First Gas Development Milestone

PETRONAS, via its wholly owned subsidiary PETRONAS Suriname E&P B.V. (PSEPBV), in partnership with Staatsolie Maatschappij Suriname N.V. (Staatsolie), has reached a major milestone with the Declaration of Commerciality (DoC) for the Sloanea field in Block 52, representing Suriname’s first gas development landmark in its growing deepwater energy sector.

The DoC signals that the project is ready to advance from the discovery phase toward development, pending a final investment decision. It follows the successful Sloanea-1 exploration well in 2020 and reflects strong confidence from both partners in the offshore basin’s hydrocarbon potential, as well as a shared commitment to unlocking Suriname’s deepwater resources.

PETRONAS Vice President of International Assets of Upstream, Mohd Redhani Abdul Rahman remarked, “The DoC of Sloanea-1 affirms the field’s economic feasibility towards its development and commercialisation. This milestone underscores the robust collaboration and mutual trust between PETRONAS and Staatsolie, founded on technical proficiency, environmental stewardship, and a commitment to delivering shared benefits for the people of Suriname.” 

PETRONAS signed the Production Sharing Contract for Block 52 in 2013 and has since made three notable discoveries in the area.

As the operator of Block 52, PETRONAS holds an 80% participating interest, with the remaining 20% owned by Paradise Oil Company (POC), a subsidiary of Staatsolie. Beyond Block 52, PETRONAS has stakes in eight offshore blocks in Suriname — Blocks 9, 10, 48, 52, 53, 63, 64, and 66 — reinforcing its role as a long-term partner in advancing Suriname’s energy development.

This milestone underscores PETRONAS’ strategy of driving high-value growth through collaboration and technical expertise, while further positioning Suriname as an emerging deepwater hub within the Suriname-Guyana Basin.