Suriname, a South American nation with ambitious energy goals, has embarked on a journey of collaboration. Its state-owned oil company, Staatsolie, has initiated discussions with global oil giants Exxon Mobil and TotalEnergies. The objective? To jointly develop natural gas fields that straddle the maritime borders shared with neighboring Guyana. These early-stage negotiations signify Suriname’s determination to increase foreign investment in its energy production.
2. Bridging Boundaries
The gas fields in question lie at the intersection of Suriname’s territorial waters and Guyana’s maritime domain. As Suriname looks westward, it observes an impressive feat achieved by an Exxon-led consortium in Guyana. With oil output already soaring to approximately 650,000 barrels per day, Guyana’s consortium is now exploring untapped gas fields. The challenge? To balance domestic supply, exports, and energy revenue generation.
3. A Delicate Balance
Differences in taxation and fiscal terms between the two nations present hurdles. However, Suriname remains undeterred. The proximity of Exxon’s gas discoveries in Guyana to Suriname’s own gas fields (where TotalEnergies and APA Corp have found gas) offers a unique opportunity. Staatsolie’s Managing Director, Annand Jagesar, envisions a grand scale—a synergy that transcends borders. By combining efforts, they can transform the region into a gas hub.
Annand Jagesar
4. The Path Forward
As the negotiations unfold, Suriname seeks alignment. It aims to harness the potential of these shared resources, creating a win-win situation for both countries. The vision extends beyond profit—it’s about regional prosperity, sustainable energy, and cooperation. Suriname’s first major oil production from offshore is just around the corner, and this gas collaboration could be the catalyst for a brighter future.
Conclusion: A Shared Horizon
In the vast expanse of the Atlantic, Suriname and Guyana stand at a crossroads. Their shared horizon beckons them to rise above challenges, to blend expertise, and to forge a legacy. Together, they can unlock the energy beneath the waves, fueling progress and illuminating the path toward prosperity. As the negotiations continue, let us celebrate this audacious endeavor—a testament to human ingenuity and the boundless potential of collaboration.
