KUALA LUMPUR (Nov 3): Petronas' subsidiary Petronas Suriname E&P BV has made an oil discovery at the Roystonea-1 exploration well in Suriname’s Block 52, South America.

Block 52, which covers an area of 4,749 sq km, is located north of the coast of Paramaribo, Suriname’s capital city, within the prospective Suriname-Guyana basin.

Petronas Suriname E&P is the operator of Block 52 with 50% participating interest.

The national oil and gas company said the well was successfully drilled to a total depth of 5,315 metres. It also encountered several oil-bearing Campanian sandstone reservoir packages.

“Petronas views the Roystonea-1 oil discovery as a positive development towards realising our differentiated barrel strategy for international upstream ventures, focusing on a material discovery with minimal contaminants,” according to Petronas executive vice-president and chief executive officer of upstream Datuk Adif Zulkifli.

Meanwhile, Petronas vice-president of exploration Mohd Redhani Abdul Rahman said the success of Roystonea-1 is expected to drive further exploration for commercially viable hydrocarbon resources in the surrounding areas.

“Petronas will work closely with the host authority, Staatsolie and partners, to unlock Suriname’s hydrocarbon potential. We look forward to implementing a safe and successful future exploration programme together,” he said.

In addition to Block 52, Petronas Suriname E&P operates Block 48 with 100% participating interest. It is also a partner with 30% non-operating participating interest in the adjacent Block 53, where the Baja-1 oil discovery was made in 2022.