Petronas discusses the development of recent oil discoveries with President Santokhi

Office of the President release

A delegation from Malaysian company Petronas met President Chandrikapersad Santokhi to discuss the recent discoveries in Block 52 and Roystonea-1 off the coast of Suriname. During this meeting on Thursday, November 9, Petronas executives gave a presentation to the head of state in the presence of Staatsolie director Annand Jagesar.

Petronas Chief Operating Officer (COO), Adnan Zainal Abidin, led the delegation and held discussions to explore further development of the recent discoveries in collaboration with Staatsolie. The presentation highlighted the opportunities that Petronas offers, both as an independent company and Malaysia's national oil company. In addition, the favorable results of the discoveries and explorations in Suriname were presented, both for the oil and gas sectors.

“We propose to carry out at least two more drillings next year to collect more data for our field plans and to conduct detailed studies that can hopefully lead to a final investment decision,” the COO stated. Petronas is also considering the possibility of producing liquefied natural gas from floating facilities.

Staatsolie director Jagesar welcomes the cooperation, but emphasizes that new negotiations are necessary due to the gas discoveries. Unlike profitable oil extraction, gas processing requires a costly process because the gas must be liquefied for export. “For gas discoveries, the conditions are discussed again with the partner, and we are doing that now,” reports Jagesar.