Suriname Eyes Bigger Role in Global Oil & Gas Industry

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Written by Amir Richani for IIR News Intelligence (Sugar Land, Texas)

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Summary

Petronas has chalked up two new oil and gas discoveries and a successful appraisal offshore Suriname. The South American country hopes to leverage these successes, along with TotalEnergies' GranMorgu project, to become a significant international oil player.

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Making a Name for Suriname

Suriname is seeking to capitalize on new oil and gas finds, as it looks to follow in the footsteps of neighboring Guyana. Petroliam Nasional Berhad's (Petronas) two new discoveries, along with its successful appraisal in Block 52 in the Suriname-Guyana Basin, reinforce Suriname's status as an emerging offshore hydrocarbons frontier. According to Industrial Info Resources data, there are four active capital offshore oil and gas production projects in Suriname, with a total investment value of US$2.61 billion.

Malaysian oil company Petronas announced June 30 that its Caiman-1 appraisal well encountered oil-bearing reservoirs, while its Swartzia Aspasia Complex-1 intersected gas-bearing reservoirs and its Roystonea-2 confirmed the lateral extent of oil-bearing reservoirs in Block 52.

Petronas has recorded eight successful wells since it kicked off its exploration efforts in Suriname, and the company currently holds interests in eight offshore blocks.

Petronas most advanced Suriname project is the Sloanea gas field discovery, which was declared commercially viable in November 2025. The company expects to make a final investment decision on this project by the end of 2026, and it is evaluating multiple scenarios that would support a 1.2 million-ton-per-annum (MTPA) floating liquefied natural gas (FLNG) unit, or a larger 2.4 MTPA FLNG unit.

Industrial Info Resources offers more information on the Sloanea development in its Global Market Intelligence (GMI) Oil & Gas Plant and Project databases, where readers can find details--including construction schedules, investment values and necessary equipment--in a project report and plant profile.

Suriname's future natural gas production is expected to be directed primarily toward exports. However, as the country expands its hydrocarbons frontier, a fraction of future gas output could support domestic opportunities, including gas-to-power projects.

"Eight successful wells in Suriname, with recoverable resources of more than 1 billion barrels of oil equivalent unlocked, reflect the strength of our technical capabilities, disciplined execution and strong partnership in Suriname," said Mohd Jukris Abdul Wahab, the chief operating officer of Petronas. "Block 52 sits within a highly prospective corridor, the Golden Lane, and we remain focused on translating this resource base into long-term value for Suriname and Petronas."

Suriname's New Frontier

Suriname already is producing oil from onshore fields, although current output remains small when compared with what is projected from the offshore developments under preparation. Staatsolie Maatschappij Suriname (Staatsolie) produced 6.35 million barrels of Saramacca crude in 2025, or about 17,400 barrels per day (bpd).

Staatsolie also operates the Staatsolie Refinery, which has a processing capacity of 15,000 bpd and supplies different fuel products to the domestic market, with surplus product exported to the Caribbean. Readers can consult a detailed plant profile.

However, Suriname's new frontier is global. TotalEnergies' US$10.5 billion GranMorgu project has put Suriname on the hydrocarbon map. The French company expects its first production from the asset by 2028, with a 220,000-bpd capacity and more than 750 million barrels of recoverable oil.

GranMorgu is owned by a consortium composed of TotalEnergies (40%), APA (40%) and Staatsolie (20%). Readers can learn more from a detailed project report.

At the same time, Reuters reported that TotalEnergies is planning a new exploration campaign on Block 58, where GranMorgu is located, in 2027.

Suriname's offshore oil development also could create new associated gas opportunities; however, TotalEnergies and Staatsolie have said GranMorgu's FPSO is designed for zero routine flaring and full reinjection of associated gas. Domestic supply in areas such as power generation could be served by associated gas.

Besides TotalEnergies and Petronas, other international players such as Chevron Corporation, Shell plc, QatarEnergy and PetroChina have stakes in offshore blocks, where exploration is ongoing or planned.

According to Reuters, PetroChina expects to begin exploration drilling at its two shallow-water blocks next year.

Fresh Opportunities

Suriname has been keeping an eye on successful oil and gas developments in neighboring Guyana, which offers the most direct benchmark. Brazil and Argentina, meanwhile, are showing different models of large-scale hydrocarbon development.

"Every aspect of Suriname's natural wealth must develop into broad national prosperity," said President Jennifer Geerlings-Simons during the Suriname Energy, Oil and Gas Summit, which was held in Paramaribo from June 23 to 26. "What emerges from our soil and our deep waters today must be visibly and tangibly reflected in the daily lives of our people tomorrow."

Key Takeaways

• Petronas announced two new discoveries and one successful appraisal in Block 52.
• Petronas has recorded eight successful wells in Suriname
• TotalEnergies expects to begin a new Block 58 exploration drilling campaign in 2027, while GranMorgu first oil is expected in 2028.

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