Caribbean Broadcasting Corporation

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September 9, 2022
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CMC –The Malaysia-based oil company, PETRONAS Suriname E&P B.V. (PSEPBV) Friday announced its first oil discovery in the Dutch-speaking Caribbean Community (CARICOM) country at the Baja-1 well in the country’s offshore Block 53.

“The discovery at Baja-1 well is an important milestone for PETRONAS in unlocking deep water hydrocarbon resource from our exploration ventures. We are encouraged by this achievement and will remain focused on growing our international portfolio, especially in the Americas,” said PETRONAS’ Exploration Vice President, Mohd Redhani Abdul Rahman.

“This achievement is a testament to the combined expertise and experience of all joint venture partners and we look forward to more exciting milestones as we progress further,” he added.

The company said the well, located about 189 kilometres offshore Suriname in a water depth of 1,140 metres, was successfully drilled to a total of 5,290 metres. It also encountered light oil in the Campanian aged sedimentary sequence. Post-drill evaluation is ongoing to firm up the potential of the discovered resource.

PSEPBV holds a 30 per cent participating interest in the block which is operated by APA Suriname Corporation LDC with a 45 per cent interest, with CEPSA Suriname, S.L. holding the remaining 25 per cent.

PSEPBV also holds 100 per cent interest and operatorship in Block 48 and is in a 50-50 partnership with ExxonMobil Exploration and Production Suriname B.V in Block 52 within the prospective Suriname-Guyana basin. In 2020, the first hydrocarbon discovery was made in Block 52.

Last month, the American oil company, APA Corporation (APA) and Suriname’s Staatsolie announced the discovery of another large oil reserve off the coast of Suriname in Block 53.

Since January 2020, five successful discoveries were made in Block 58. The oil was found in the Baja-1 well that was drilled to a depth of 5,290 meters and encountered 34 meters of net oil payment.

Preliminary analyses indicate light oil with a gas-to-oil ratio of 1600 to 2200 standard cubic feet per barrel, in a good quality reservoir. The discovery at Baja-1 is from the same deposition system as the Krabdagu discovery, 11.5 kilometers to the west at Block 58.

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