Suriname has discovered more than 2.4 billion barrels of oil

Energy consultancy Wood Mackenzie recently released a report saying that Suriname has made significant progress in oil exploration, with more than 2.4 billion barrels of oil and more than 12.5 trillion cubic feet of natural gas resources discovered so far.

Wood Mackenzie analysts said that the discovery of crude oil resources by Petronas Suriname Exploration and Production Berhad, a subsidiary of Petronas, in the Roystonia 1 and Fosseia 1 exploration Wells is about 400 million barrels, and Suriname's energy industry will embrace new growth points.

Julia Wilson, director of exploration research at Wood Mackenzie, said in the report: "The relevant authorities in Suriname have taken full advantage of Petronas' experience in liquefied natural gas (LNG) development and have balanced their LNG heavy portfolio by providing oil resources." Since 2019, nine deepwater oil fields have been discovered in Suriname, further tapping the country's oil resource potential.

The report also noted that Total Energy and Apache Petroleum are close to approving a floating production storage and offloading unit (FPSO) cluster development project in Blocks 53 and 58, north of the Roestonia exploration well.