Guyana and Suriname’s natural gas resources could support future energy exports as offshore development continues, according to Wood Mackenzie.
In a video message posted on July 27, Adrian Lara, Principal Analyst for Upstream Latin America at Wood Mackenzie, said upstream projects in both countries are progressing while large areas of the offshore basin remain unexplored.
“With respect to Guyana and also Suriname, for us these countries represent a near-term production upside for the region. Upstream production projects are on track, and they will be timely executed. There’s also an unexplored frontier,” Lara said.
The Upstream Analyst explained that most production and exploration activity has been concentrated in the Golden Lane, which is known for its prolific deepwater petroleum system.
Lara said the next key issue for both countries is how their natural gas resources will be developed and commercialized.
“Another important consideration for these two countries is natural gas resources,” he said. “Both associated gas and unassociated gas resources are significant, and the forward-looking question is whether Guyana and Suriname can become a source of energy export. The possibility, we think, is worth watching closely”.
Guyana is pursuing two gas development pathways.
Associated gas from the Stabroek Block is being developed through the Gas-to-Energy project, which will transport natural gas from offshore production to Wales for power generation and natural gas liquids processing.
ExxonMobil has proposed standalone gas developments offshore. The proposed Longtail project is expected to become Guyana’s first non-associated gas development and could support LNG exports, along with domestic industrial use. The Haimara discovery is also being considered as part of future gas development plans.
Suriname is also assessing ways to develop its offshore gas resources as exploration activity continues.
The country has attracted investment following offshore discoveries made by operators including TotalEnergies and APA Corporation, while state-owned Staatsolie has identified natural gas development as part of its future energy plans.
