Malaysian energy giant Petronas will explore developing a standalone floating liquefied natural gas (FLNG) project in Suriname’s offshore Block 52.
Petronas said on Thursday it has achieved “outstanding successes” in its exploration and appraisal activities in both Malaysia and internationally, during the first half of 2024.
On the international front, Petronas has achieved success in Suriname with the Sloanea-2 appraisal well in Block 52 which was drilled in June, it said.
This accomplishment has bolstered Petronas’ prospects in the basin and opens the possibility of developing a standalone FLNG project at the field in the future, it said.
Petronas is currently assessing the feasibility of an integrated development strategy for gas and oil extraction within Block 52.
In May, Petronas made made a third hydrocarbon discovery in Block 52 at the Fusaea-1 exploration well, located about 170 kilometers offshore and 9 kilometers east from Roystonea-1.
Block 52, which covers an area of 4,749 square kilometres, 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 a 50 percent participating interest together with ExxonMobil.
In addition to Block 52, Petronas Suriname E&P operates Block 48 and Block 63 with 100 percent participating interest and 30 percent non-operating interest in Block 64.
FLNG business
Petronas continues to expand its FLNG business and last year it awarded the engineering, procurement, construction, commissioning (EPCC) contract for the nearshore floating LNG project in Sabah.
Japan’s LNG engineer JGC and South Korea’s Samsung Heavy are building the third floating LNG producer for Petronas and the unit will have capacity of 2 mtpa. It is scheduled for completion in 2027.
Upon completion, the nearshore LNG plant will increase Petronas’ LNG production from floating LNG facilities from 2.7 mtpa to 4.7 mtpa.
Currently, Petronas operates two floating LNG facilities, namely the 1.2 mtpa PFLNG Satu, as well as the 1.5 mtpa PFLNG Dua, both located offshore Sabah.
In addition to these units, Petronas is working with Argentina’s state-owned oil and gas company YPF on the Argentina LNG export project, which will include FLNGs.
The partners recently decided to build their $30 billion LNG export project in the Patagonian province of Río Negro.