Petronas strikes oil in offshore Block 52 with Roystonea-1 well discovery

In a significant advancement for Suriname’s hydrocarbon sector, Petronas has announced a new oil discovery within offshore Block 52 following the successful drilling of the Roystonea-1 exploration well. This promising find was made by Petronas Suriname E&P, a subsidiary of the Malaysian energy giant.

Suriname’s Hydrocarbon Landscape Bolstered by New Oil Find in Block 52

The discovery at Roystonea-1 comes after a previous successful find by Petronas and its partner ExxonMobil in December 2020 at the Sloanea-1 exploration well within the same block. Petronas holds a 50% operating interest in Block 52, with ExxonMobil possessing the remaining stake. Positioned nearly 185 kilometers offshore, the Roystonea-1 well lies in a water depth of 904 meters and reached a total depth of 5,315 meters during drilling. The exploration process encountered several oil-bearing sandstone reservoirs in the Campanian formation.

Roystonea-1 Marks Another Significant Oil Discovery for Petronas in Suriname

With the new discovery at Roystonea-1, Petronas is currently conducting further assessments to ascertain the full extent and potential of the find. There is also an ongoing exploration of development synergies with the Sloanea-1 discovery, indicating a forward-looking strategy for hydrocarbon exploration in the region.

Datuk Adif Zulkifli – Petronas executive vice president and CEO of upstream, expressed optimism about the discovery: “Petronas views the Roystonea-1 oil discovery as a positive development towards realizing our differentiated barrel strategy for international upstream ventures, focusing on a material discovery with minimal contaminants.”

The 4,749 square kilometer Block 52 is situated in the prolific Suriname-Guyana basin, a region that has become increasingly attractive for oil exploration. Positioned north of Suriname’s capital city, Paramaribo, this block adds to the growing portfolio of hydrocarbon discoveries in the area.

Exploration Momentum Continues for Petronas in Suriname’s Offshore Blocks

Petronas exploration vice president, Mohd Redhani Abdul Rahman, highlighted the implications of the discovery: “The success of Roystonea-1 is expected to drive further exploration for commercially viable hydrocarbon resources in the surrounding areas. Petronas will continue to work closely with the host authority, Staatsolie, and partners to unlock Suriname’s hydrocarbon potential. We look forward to implementing safe and successful future exploration programmes together.”

Aside from Block 52, Petronas Suriname E&P also fully owns Block 48 and holds a 30% non-operating interest in the adjacent Block 53, which recently experienced an oil discovery with the Baja-1 well in 2022.