Malaysian oil giant PETRONAS Suriname announced first oil discovery in Suriname, at the Baja-1 well in the country’s offshore Block 53. 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% participating interest in the block which is operated by APA Suriname Corporation with a 45% interest, with CEPSA Suriname, holding the remaining 25%PSEPBV also holds 100% 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.