Suriname's Offshore Oil Expansion: A New Era of Partnerships
Suriname's state oil firm Staatsolie will launch an 'open-door offering' for offshore exploration in November. Following successful investments and discoveries, the nation aims for diverse energy partnerships, differing from Guyana's Exxon-led model. Full offering details will be available November 24.
Suriname's state oil firm, Staatsolie, announced on Tuesday its forthcoming 'open-door offering' for offshore exploration, set to commence in November. This initiative is part of the country's strategy to attract partners and funding, aiming to capitalize on potential oil and gas reserves.
The small South American nation, spurred by the $12 billion Gran Morgu project's investment decision last year, seeks to inaugurate its offshore output by 2028. Unlike its neighbor Guyana, where Exxon Mobil dominates production, Suriname is promoting a more diverse energy sector, encouraging partnerships with firms from the U.S., Europe, and Asia.
In line with this strategy, Staatsolie and Petronas recently inked a production-sharing agreement for Block 66, positioning Petronas in six different areas. The upcoming offshore offering will allow companies to choose between technical evaluation agreements or production-sharing contracts, with further details expected on November 24.
Google News