OIL Exploration: Suriname makes hydrocarbon discovery again near Guyana border

Block 58 near border between Guyana and Suriname. (Click to enlarge)

 Dec 12, 2020 – Kaieteur News – ExxonMobil and its partner, PETRONAS, have made the first hydrocarbon discovery in a Suriname block near the border with Guyana, called Block 52.

PETRONAS Suriname E&P B.V. (PSEPBV), the Suriname subsidiary of the Malaysian PETRONAS, is the operator of the block. It announced the results of the Sloanea-1 exploration well on December 11, 2020. It said that the well encountered several hydrocarbon-bearing sandstone packages with good reservoir qualities in the Campanian section, and that further evaluation is being undertaken to understand the full extent of the discovery. 

The Sloanea-1 exploration well was successfully drilled to a total depth of 4,780 metres using the Maersk Developer rig, according to PETRONAS.

PETRONAS Vice President of Exploration, Upstream, Emeliana Rice-Oxley said: “We are pleased with the positive results of the well. It will provide the drive for PETRONAS to continue exploring in Suriname, which is one of our focus basins in the Americas.”

PETRONAS was awarded Block 52 with effective date of April 26, 2013 and completed a 50 percent farm-down in May with Exxon subsidiary, ExxonMobil Exploration and Production Suriname B.V.

Rice-Oxley said “We look forward to further successful collaboration with our partner ExxonMobil and further strengthen our relationship with the government of the Republic of Suriname, as a solutions partner, progressing towards delivering clean and reliable energy to the market.”

In a statement, ExxonMobil lauded the first find it has made in Suriname as building on its investments in Guyana.
Its Senior Vice President of Exploration and New Ventures, Mike Cousins said, “We will continue to leverage our deepwater expertise and advanced technology to explore frontier environments with the highest value resource potential.”

Block 52 is 1.2 million acres, similar in size to ExxonMobil’s Canje Block in Guyana. The Block is about 75 miles offshore Suriname, north of the capital Paramaribo, and next to the lucrative Block 58, where Apache and Total have made three successful discoveries.
Exploration in Block 58 had been excited by ExxonMobil’s discoveries in the Guyana portion of the basin. It has made 18 discoveries in the Stabroek Block, and one at the Kaieteur Block.

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  • brandli62  On 12/14/2020 at 5:04 pm

    This is good news for Suriname, who joins Guyana as the most exciting countries for oil discoveries in the last ten years. If both countries manage to handle the future oil revenues with care and wisely, there is a bright future ahead for the people of both nations. Guyana can learn from Suriname, which has a much longer history in (on-shore) oil production that Guyana.

    • Dennis Albert  On 12/16/2020 at 8:13 am

      Last five years was a lot of oil. The next five years will get close to 25 billion barrels in oil reserves that are more to come.

  • brandli62  On 12/16/2020 at 8:56 am

    My estimate for 2020 is at 16.2 billion barrels. This number is based on the widely reported 9 billion barrels for the Stabroek plus the estimates for the other blocks. I therefore believe that your estimated of 25 billion barrels by 2025 is good guess! Mind-boggling as it would mean that Guyana will lead the list of countries with the highest oil reserves per capita, well ahead of second-placed Kuwait. Who would have thought just ten years ago?

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