Suriname Archives - Panorama Insurance Brokers

Guyana, Suriname will eat up more deep water investments as majors double down

Consultancy group Wood Mackenzie did a recent analysis on the relevance of future oil and gas exploration in a world where energy companies are being pressured to clean up their act and give way to the energy transition. Under these circumstances, analysts have long concluded that provinces capable of delivering low-cost, cleaner barrels such as… Read More

Qatar Petroleum upbeat about increasing its presence in new South America hot spot

Qatar Petroleum is increasing its presence in the Guyana-Suriname Basin where latest estimates put recoverable oil equivalent resources to well over 20 billion barrels, representing double what has been discovered so far across the new South American oil province. Suriname state oil company Staatsolie Maatschappij Suriname N.V. announced on Friday that oil companies were awarded… Read More

Chevron and Qatar Petroleum consortium win bids for Suriname oil blocks

Chevron Exploration Suriname Limited and a consortium consisting of TotalEnergies and Qatar Petroleum have submitted the most favourable bids for shallow offshore blocks in Suriname’s recently concluded bid round. State oil company Staatsolie Maatschappij Suriname N.V. said on Friday Chevron submitted the most favourable bid for Block 5 while the TotalEnergies consortium submitted bids for… Read More

Caribbean governments want to develop oil & gas resources as fast as possible

Despite criticism by some groups in Guyana that the country is moving too quickly with the development of its vast hydrocarbon resources, the government there as well as authorities in other Caribbean territories have recognised that the window to reap maximum returns from these assets is quickly closing. And they intend to get as much… Read More

Suriname production expected to hit 650,000 bpd by 2030

Consultancy group Rystad Energy estimates that the five offshore discoveries made so far in Suriname hold cumulative recoverable resources of around 1.9 billion barrels of oil equivalent and anticipates production to come on stream by the end of decade, surpassing the half million barrels per day (bpd) mark. “Suriname took a giant leap last year… Read More

Total selects Yinson for pre-FEED work on first Suriname FPSO

Yinson has been selected by Total to perform preliminary Front-End Engineering Design (pre-FEED) for two FPSO projects; one to be installed in Block 58 in Suriname and the other at Block 20/21 in Angola. “The Angola project will be installed at around 1400m, located 160km from Luanda, while the Suriname project will be installed at… Read More

Ali calls on Guyanese investors to position themselves for opportunities in Suriname’s oil boom

While it is crucial for local investors to position themselves to benefit from the opportunities that lie in Guyana’s booming oil sector, they should also take caution in not having tunnel vision. According to President Irfaan Ali, Guyanese investors must “think bold” and seek to capitalize on some of the business opportunities that will arise… Read More

Scale of resources, production potential at Suriname’s Block 58 “bigger than big” says APA official

All eyes are on Suriname’s Block 58 where four of the country’s five offshore discoveries have been made to date and the scale of the resource volume and production potential is said to be “bigger than big” according to an official at Apache Corporation (APA), a 50% stakeholder in the block. Total is operator and… Read More

Suriname President confirms FID targeted for 2022, first oil by 2025

President of Suriname, Chandrikapersad Santokhi confirmed on Tuesday that Total and partner Apache will move forward with their final investment decision at Block 58 next year and move towards first oil by 2025. This will make the offshore development the second fastest ramp up in production in the Guyana-Suriname basin since ExxonMobil’s Liza Phase 1…. Read More

Suriname oil summit opens with focus on major offshore potential

Suriname Energy Oil & Gas Summit 2021 virtual edition got underway on Tuesday with the South American country’s massive deepwater potential taking centre-stage in a series of presentations and discussions. The keynote address was delivered by President Chandrikapersad Santokhi, who said the two most important objectives of the summit are to promote entrepreneurship and attract… Read More