(Kaieteur News) – Suriname is moving closer to joining Guyana as a major oil-producing nation, with Malaysian state energy giant Petronas expected to make its Final Investment Decision (FID) for offshore Block 52 this year — a milestone that could unlock one of the most significant energy developments in the Caribbean basin in recent years.

The announcement was made by Surinamese President Jennifer Simons on Tuesday, while a Petronas executive revealed that eight discoveries across Block 52 collectively hold more than one billion barrels of oil equivalent — a figure that underscores the enormous potential lying beneath Suriname’s offshore waters.

The latest catalyst for optimism came in the form of a new gas discovery at Block 52, adding to a growing portfolio of finds that have steadily built the case for full-scale development. With the FID now on the horizon, Petronas is poised to transition from exploration to production — a shift that could dramatically reshape Suriname’s economic landscape.