Less than a week after the Stabroek Business had published a story alluding to Suriname falling behind Guyana in what had been seen for some time as a race between the two countries for first oil, (Suriname’s ‘delayed’ oil breakthrough delaying bilateral ambitions with neighbouring Guyana – Stabroek Business Friday September 15, 203), the French oil company brought the country the ‘good tidings’ that it is on the verge of commencing what another media report has described as “development studies for a large oil project offshore the country” which is scheduled to commence before year end and which it says is expected to position the country for first production in 2028. The studies are being done, the report said “ahead of a US$9-billion investment into Suriname’s nascent oil industry which is expected to start first production in 2028.”
The glad tidings were reportedly brought to Paramaribo last Wednesday, by Total Energies Chief Executive Officer, Patrick Pouyanné, just over a week ago. Apart from realising what the media report said amounted to “lifting the uncertainty” surrounding the final investment decision (FID) for the country’s offshore Block 58, the announcement would have served to remove some of the gloom associated with the much less-than-stellar state of the country’s economy. The report says that a final investment decision will be made next year.
