End-of-Mission press releases include statements of IMF staff teams that convey preliminary findings after a visit to a country. The views expressed in this statement are those of the IMF staff and do not necessarily represent the views of the IMF’s Executive Board. Based on the preliminary findings of this mission, staff will prepare a…
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The Early Exploration Amsterdam, nov 2023– Onshore exploration. In both Suriname and Guyana, oil seeps were known from the 1800s, into the 1900s. Exploration in Suriname discovered oil at a 160 m depth while drilling for water in a schoolyard in Calcutta Village. The onshore Tambaredjo oil field (15-17 oAPI oil) was discovered in 1968. First oil began in…
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eyesonsuriname Amsterdam, 15 nov 2023– according to the United States Geological Survey, an estimated 13.6 billion barrels of oil and 32 trillion cubic feet of natural gas could lie in the Guyana-Suriname Basin, making it the 2nd most prospective, underexplored offshore oil basins in the world. Experts have long suspected that the basin may share a similar…
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Oil Galore eyesonsuriname Amsterdam, 11 November 20211–Suriname came out swinging at the launch of the 2nd Bid Round for its Shallow Offshore Acreage, promising potential bidders a collective reward of over 91 billion barrels of original oil in place. Based on the outcome of an independent prospects re-mapping study, the regarding acreage seems to include around…
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Fitch Ratings – New York – 16 Jul 2020: Fitch Ratings has upgraded Suriname’s Long-Term Foreign-Currency Issuer Default Rating (IDR) to ‘CC’ from ‘RD’. Fitch has also upgraded the issue rating on Suriname’s 2023 notes to ‘CC’ from ‘D’. KEY RATING DRIVERS The upgrades follow the completion of the “consent solicitation” to reschedule the principal…
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The successful drilling, carried out in an offshore location about 185 kilometers from the coast and at a water depth of 904 meters, has revealed several oil-bearing campanian sandstone reservoir packages, the company announced on November 2. The Roystonea-1 well reached a total depth of 5,315 meters. Petronas said that the discovery is poised to…
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Suriname’s window of opportunity to reap the full benefits of its offshore oil and gas sector is closing fast, said Guyana’s Vice President Bharrat Jagdeo during an October 12 press conference. Jagdeo was asked to respond to reports about Guyana being used as a “negative example” of how to govern an oil industry. In his…
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The government of Guyana has issued a statement expressing its concern over reports of increased military activities and troop mobilization by Venezuelan forces in proximity to the country’s borders. In response to these developments, Guyana has taken steps to address the situation, including informing its international partners and taking measures to safeguard its sovereignty. The…
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In September, a group of 16 junior diplomats from South America arrived at the Clingendael Institute for a three-week diplomatic training programme. The course focused on strengthening their diplomatic skills, deepening their knowledge on relevant regional and international issues, and familiarising the diplomats with policies in the Netherlands and the EU. The training was divided…
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