Suriname’s oil resources seen totaling over 2 Bbbl, Wood Mackenzie reports

(Bloomberg) – Suriname’s discovered oil resources now total more than 2.4 Bbbl of crude and liquids, and the nation has more than 12.5 tcf of gas, according to Wood Mackenzie.

Petroliam Nasional Bhd.’s discovery in the Roystonea and Fusaea blocks are approaching 400 MMbbl, WoodMac analysts said in a report Thursday. The finds could supply a floating production, storage and offloading vessel with about 100,000 bpd of oil-processing capacity, opening up the country to its first sanctioned development.

Suriname “plays to Petronas’ existing competencies in LNG development while providing oil to offset its LNG-weighted portfolio,” Julie Wilson, WoodMac exploration research director, said in the note. Nine deepwater fields have been discovered in Suriname since 2019, the report said.

TotalEnergies and APA Corp. are nearing the sanctioning of a cluster FPSO development on Block 58, while Block 53, located north of Roystonea, could lead to a wider cluster development, the report said.

Meanwhile in Guyana, the 10 FPSO development in Stabroek block is valued at more than $150 billion, assuming Brent prices of $65 per barrel, split between the government and three other owners, the report said. Exxon Mobil Corp. sanctioned the sixth FPSO in the block last month.