KUALA LUMPUR – Petronas has marked a major milestone with the Declaration of Commerciality (DoC) for the Sloanea field in Block 52, signalling Suriname’s first gas development step in its deepwater energy landscape.
In a statement, Petronas said the DoC was submitted through its wholly-owned subsidiary, Petronas Suriname E&P B.V. (PSEPBV), in partnership with Staatsolie Maatschappij Suriname N.V. (Staatsolie).
The declaration moves the project from the discovery phase towards development, pending a final investment decision.
According to Petronas, the DoC builds on the successful Sloanea-1 exploration in 2020, strengthening both companies’ confidence in the offshore hydrocarbon potential of Suriname and reaffirming their shared commitment to developing the country’s deepwater resources.
Petronas Vice-President of International Assets, Upstream, Mohd Redhani Abdul Rahman, said the declaration demonstrates the field’s economic viability for development and commercialisation.
“The DoC for Sloanea-1 confirms its ability to be developed commercially.
“This achievement reflects the strong cooperation and mutual trust between Petronas and Staatsolie, supported by technical expertise, environmental stewardship, and our shared commitment to delivering benefits to the people of Suriname,” he said.
Petronas entered into the Production Sharing Contract (PSC) for Block 52 in 2013 and has recorded three significant discoveries in the block since then.
The company operates Block 52 with an 80 per cent participating interest, while the remaining 20 per cent is held by Paradise Oil Company (POC), a Staatsolie subsidiary.
Petronas currently holds interests in eight offshore blocks in Suriname — Blocks 9, 10, 48, 52, 53, 63, 64 and 66 — consolidating its position as a key investment partner in the South American nation’s energy development agenda.
This latest milestone also reinforces Petronas’ focus on high-value growth driven by expertise and strategic collaboration, while advancing Suriname’s emergence as a new deepwater hub within the Suriname-Guyana Basin. – November 14, 2025