10 wells will be drilled offshore Suriname in 2025-2026, Rystad Energy forecasted in a February 2025 release.
The Norway-based energy intelligence firm said the focus on Guyana’s eastern neighbor is growing, as more operators look to explore and develop resources there. “The similarities in petroleum systems between the coastal neighbors are expected to play a pivotal role in the decision-making process of majors, which are drawn to the geological similarities, proven exploration success and Suriname’s active courting of foreign investment, creating a favorable environment for exploration and production,” Rystad Energy said.
In Guyana, ExxonMobil has discovered 11 billion oil-equivalent barrels.
Increasing focus on Suriname is reflected in growing investment, with upstream spend growing from US$348 million in 2020 to US$514 million in 2024.
According to Rystad Energy, the Araku-1 Deep well is a milestone exploration target and the first of at least four to be drilled this year. “A discovery at the well could de-risk deeper plays and provide better clarity around future drilling plans – which would constitute a significant boon for Suriname as it looks to court foreign investment to fund future offshore projects,” Rystad Energy stated.
The analyst firm said state oil company Staatsolie is well-positioned to benefit from a discovery at Araku-1, given its ability to opt in and participate in a development.
Staatsolie said up to five wells are expected this year alone. The company expects TotalEnergies, PETRONAS, Shell, Chevron and QatarEnergy to drill wells across multiple blocks. These include the aforementioned Araku Deep-1 well at Block 65, Macaw-1 at Block 64, KoriKori-1 at Block 5, and two Block 52 wells.
The Suriname government is gunning for these operators to increase the total recoverable resources above the 2.2 billion oil-equivalent barrels estimated by Rystad Energy.
Among frontier basins, Rystad Energy placed Suriname second only to Turkey in terms of conventional discoveries in the period 2020-2024. Turkey’s estimated recoverable resources discovered in the period amount to 3.6 billion oil-equivalent barrels.
TotalEnergies also expects to start development drilling for the Block 58 Gran Morgu project in early 2026.
