Another oil & gas find for Petronas and ExxonMobil offshore Suriname

Petronas Suriname E&P, a subsidiary of Malaysia’s energy giant Petronas, and ExxonMobil Exploration and Production Suriname, an affiliate of the U.S. oil major ExxonMobil, have made another hydrocarbon discovery at an exploration well in Block 52 offshore Suriname.

After the Fusaea-1 exploration well in Suriname’s Block 52, located about 170 kilometers offshore and 9 kilometers east of Roystonea-1, was spudded in February 2024, the well was drilled to a total depth of 5,227 meters with zero LTI, encountering multiple oil and gas-bearing Campanian sandstone reservoir packages.

As a result, Petronas has confirmed a third hydrocarbon discovery in Block 52 since 2020, adding that 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.

Datuk Adif Zulfikfli, Petronas’ Executive Vice President and Chief Executive Officer of Upstream, commented: “The favorable results attained from the Fusaea-1 exploration well have solidified Petronas’ standing in Suriname for material hydrocarbon resource, following the Sloanea-1 and Roystonea-1 discoveries.”

Covering an area of 4,749 square kilometers, Block 52 is located north of the coast of Paramaribo, Suriname’s capital city, within the prospective Suriname-Guyana basin. With a 50% participating interest, Petronas Suriname E&P is the operator of the block while ExxonMobil is the firm’s partner.

Mohd Redhani Abdul Rahman, Petronas’ Vice President of Exploration, remarked: “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.”

Petronas handed out a one-well contract in July 2023 to Noble Corporation’s Noble Discoverer semi-submersible rig to drill an exploration well in Block 52. The drilling activities were slated to start in August 2023 and the deal also came with a one-well extension option.

However, the work scope was transferred to the 2015-built Noble Voyager rig in January 2024. When April 2024 rolled in, Petronas exercised the option to extend the rig’s assignment and drill one additional well in Block 52 offshore Suriname at a day rate of $470,000. 

Aside from Block 52, the company operates Block 48 and Block 63 with 100% participating interest and Block 64 with 30% non-operating interest. The firm is also pursuing new energy projects elsewhere around the world.

Recently, Petronas inked a new production sharing contract (PSC) and prolonged an existing one off the coast of Indonesia to bring more hydrocarbons to the market. The Malaysian player and its petroleum agreement contractors recorded 19 exploration discoveries and two exploration-appraisal successes last year in Malaysia.