Suriname has approved a declaration of commerciality for a gas discovery in the Petronas-operated offshore block.
This milestone enables its transition to the development phase, pending a final investment decision.
Reuters reported that the declaration follows a production sharing contract signed in 2013, to explore for oil and gas in the block, which led to three discoveries and the confirmation of the gas.
A release issued by Suriname’s oil and gas company, Staatsolie, said the block’s development concept includes gas wells, subsea infrastructure and a floating LNG facility.
Petronas is now expected to submit a development plan for approval, which could lead to a final investment decision in the second half of 2026 and first gas output by 2030.
