PARAMARIBO, SURINAME: Suriname entered 2025 with growing momentum in its energy sector. Following a series of discoveries offshore, the focus is now shifting toward preparing for commercial production and the long-term development of the industry.
The most significant milestone came in October 2024, when TotalEnergies and APA Corporation announced a $10.5 billion US final investment decision (FID) for Block 58, marking Suriname’s first major offshore development. Staatsolie, the state-owned oil company, secured a 20% stake in the GranMorgu project with a bond they raised in March 2025.
Production is expected for mid-2028, with output projected at around 220,000 barrels per day. Meanwhile, operators such as Chevron, Petronas and Shell are advancing exploration across multiple blocks, reinforcing prospects that the basin holds an estimated 2.2 billion barrels of recoverable oil equivalent.
In June, Staatsolie signed a Production Sharing Contract (PSC) with Petronas’s Paradise Oil Company for Block 66, neighboring Block 52.
Beyond discoveries, current port facilities in Paramaribo and Nickerie are under review with new investments needed in logistics, supply bases and fabrication yards.
The government is also working to update its regulatory and fiscal frameworks to balance investor interest with national revenue needs.
Suriname is set to surpass Guyana in exploration and appraisal drilling activity in 2025 | OilNOW
Questions remain about whether ports, storage, power generation and skilled labor will be prepared in time to support large-scale oil operations.
The outlook for 2025 is one of cautious optimism. While oil development promises significant revenue, job creation, and broader economic growth, Suriname faces the challenge of building institutions and systems fast enough to manage the pace of change.
The next two years will be critical in determining whether discoveries translate smoothly into long-term national benefit.
