Petronas has entered into a strategic collaboration agreement with Halliburton and Valaris to support the development of its offshore assets in Suriname. The company holds stakes in seven offshore blocks there, including Block 52, which contains the Sloanea-1 natural gas discovery. This discovery is being fast-tracked, with a final investment decision targeted for the second half of 2026.

Collaborative Framework and Partner Roles

The agreement establishes a collaborative framework spanning the entire project lifecycle. This includes early-stage planning, technical integration, and continuous improvement initiatives aimed at enhancing operational efficiency and supporting execution. Valaris will contribute its offshore drilling expertise and high-specification global fleet, while Halliburton will provide subsurface insight, well construction, and digital solutions.

Integration and Development Approach

The collaboration is designed to integrate subsurface evaluation and field development planning with digital well construction. This early integration provides clear visibility into each stage of the development workflow, from concept to execution, and strengthens alignment throughout the development cycle of Petronas’ Suriname projects.

Current Operations and Project Details

Petronas is currently conducting a three-well drilling programme in Block 52 using the Noble Developer semi-submersible rig. The company operates Block 52 with an 80% stake, while Paradise Oil, a subsidiary of Suriname's state-owned Staatsolie, holds the remaining 20%. The development concept for the Sloanea-1 discovery includes gas development wells, subsea infrastructure, and a floating liquefied natural gas vessel. Specific details regarding the number or names of Valaris rigs to be used were not disclosed.