Malaysian energy giant Petronas is exploring the development of a standalone floating liquefied natural gas (FLNG) project in Suriname’s offshore Block 52.
Petronas announced on Thursday that it has achieved significant successes in its exploration and appraisal activities both in Malaysia and internationally during the first half of 2024. In Suriname, the success of the Sloanea-2 appraisal well, drilled in June, has enhanced Petronas’ prospects in the region and opened the door to the potential development of an FLNG project at the field.
Currently, Petronas is evaluating the feasibility of an integrated development strategy for gas and oil extraction in Block 52. In May, Petronas made its third hydrocarbon discovery in Block 52 at the Fusaea-1 exploration well, located approximately 170 kilometers offshore and 9 kilometers east of the Roystonea-1 well.
Block 52, which spans 4,749 square kilometers, is situated north of Paramaribo, Suriname’s capital, within the promising Suriname-Guyana basin. Petronas Suriname E&P operates Block 52 with a 50 percent stake in partnership with ExxonMobil. Additionally, Petronas Suriname E&P manages Block 48 and Block 63 with a 100 percent participating interest and holds a 30 percent non-operating interest in Block 64.
Expanding its FLNG portfolio, Petronas awarded the engineering, procurement, construction, and commissioning (EPCC) contract last year for a nearshore floating LNG project in Sabah. Japan’s JGC and South Korea’s Samsung Heavy Industries are constructing the third floating LNG producer for Petronas, which will have a capacity of 2 million tonnes per annum (mtpa) and is expected to be completed in 2027. This project will increase Petronas’ FLNG production capacity from 2.7 mtpa to 4.7 mtpa.
Petronas currently operates two floating LNG facilities offshore Sabah: the 1.2 mtpa PFLNG Satu and the 1.5 mtpa PFLNG Dua. The company is also collaborating with Argentina’s state-owned oil and gas company YPF on an LNG export project in Argentina, which will feature additional FLNG units. The partners have recently decided to proceed with their $30 billion LNG export project in the Patagonian province of Río Negro.
