Suriname’s offshore oil and gas sector is poised to become a transformative force for the nation’s economy. Following the groundbreaking success of the Gran Morgu Project, which is set to commence production in 2026, Block 52 emerges as the next flagship development in Suriname’s energy landscape. With a Final Investment Decision (FID) expected from Petronas in 2026, Block 52 could very well begin production hopefully in 2030, delivering significant economic benefits through 2055.
A Second Offshore Powerhouse
Disclaimer: These are my own carefully modelled calculations, based on public data and nearby analog cases that I studied, with my resulting opinion and prognosis.
Block 52, located in the prolific Suriname-Guyana Basin, is estimated to hold 500 million barrels of oil equivalent (MMBOE) in recoverable reserves. My detailed economic modelling, based on my own current reserve estimates, forecasts annual revenues exceeding $3 billion at peak production, with a cumulative revenue stream of over $50 billion across the 25-year production period.
This revenue will be shared among key stakeholders:
- Government of Suriname: 50% of profit oil, translating to $1.5 billion annually at peak production.
- Petronas (80% contractor share): $1.2 billion annually.
- Staatsolie (20% contractor share): $300 million annually.
These figures represent a conservative estimate based on today’s reserves. However, with ongoing exploration and technological advancements, reserves could double, further amplifying the economic impact.
Economic Impact on Suriname
Block 52 is not just an energy project; it is a catalyst for national development. The government’s share of revenue will provide a steady stream of income to fund critical infrastructure, healthcare, education, and social programs. By 2035, Suriname’s annual oil revenues from Block 52 and Gran Morgu combined could exceed $5 billion, positioning the country as a regional energy leader.
Moreover, the project will create thousands of jobs, stimulate local businesses, and attract foreign investment. The ripple effects of this economic activity will be felt across all sectors, fostering sustainable growth and prosperity.
A Vision for the Future
Block 52 represents more than just oil and gas; it symbolizes Suriname’s emergence as a global energy player. As the second grand offshore project, it builds on the momentum of Gran Morgu, ensuring long-term economic stability and growth.
With Petronas leading the charge, and Staatsolie as a key partner, Block 52 is a testament to Suriname’s commitment to responsible resource development. The project’s success will not only transform the nation’s economy but also secure a brighter future for generations to come.
The time is now to embrace this opportunity and unlock Suriname’s full potential.
Kind regards.
Marcel Chin-A-Lien
Petroleum and Energy Advisor
48 Years of Global, in-depth expertise, knowhow and insights.
That have generated transformative, multi billion giant fields discoveries, iconic first capitalistic new ventures in the USSR, bid rounds, added value and long term cash flow generating offshore exploration and production activities on Dutch North Sea, M&A, PSC designs, Contract negotiations.
Combined with a cross & trans discipline background of 4 petroleum post grad degrees, that fuse technical, business, commercial and management disciplines, accompanied by fluency in 7 languages in a variety of geographical, socio-cultural and business landscapes.
“ Exploration & Production integrated with Business & Commercial Development and Critical Insights “
Drs – Petroleum Geology
Engineering Geologist – Petroleum Geology
Executive MBA International Business – Petroleum – M&A
MSc International Management – Petroleum
Energy Negotiator Association of International Negotiators (AIEN)
Certified Petroleum Geologist # 5201 – American Association Petroleum Geologists – Gold standard Certification
Chartered European Geologist # 92 – European Federation of Geologists – Gold standard Certification
Cambridge Award “ 2000 Outstanding Scientists of the 20th Century ”, UK – Gold standard Award
Paris Awards “ Innovative New Business Projects “, GDF-Suez, France – Two Gold standard Awards, Paris, 2003.
Public Profile: nl.linkedin.com/pub/marcel-chin-a-lien/9/a73/547/
For Advisory Services contact:
Email: marcelchinalien@gmail.com
Wish to plan your visit to Suriname and Guyana, the 2 countries where my chinese grandparents first arrived and settled, when leaving their native Guangzhou, mainland China, last Qing Dynasty in 1880.
Now petroleum hotspots par excellence?
Or your holidays to my own native, paradisiac island Curaçao.
Even to one of our favourites, Brazil, with stunning Copacabana and attending a football game at Maracaná.
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