PARAMARIBO, SURINAME – The Financial Times has released a documentary examining Suriname’s emerging offshore oil sector, describing the country as “one of Big Oil’s newest frontiers” while exploring the opportunities and risks tied to the anticipated industry boom.
The 30-minute+ film focuses on the US$10.5 billion GranMorgu offshore development led by TotalEnergies, APA Corporation and Staatsolie Maatschappij Suriname N.V., Suriname’s first major offshore oil project, which is expected to begin production in 2028.
The documentary places Suriname’s offshore ambitions within the context of growing global demand for alternative oil supplies amid geopolitical tensions. Energy analyst Amrita Sen says in the film that “strategically, Latin America only goes up in importance in any company’s portfolio,” referencing disruptions linked to conflicts involving Russia and Iran.
Oil, Gas and Environment Minister Patrick Brunings describes the offshore discoveries as “a very unique opportunity for Suriname to really change in a very sustainable way,” while emphasizing the need for diversification and long-term planning. “We have to do it now,” he says in the documentary.
The film also features Staatsolie Managing Director Annand Jagesar, who highlights the scale of the expected economic impact. “The GDP of Suriname is like 4.7 billion and, in the peak years, the income from this GranMorgu project will be between 2 and 3 billion. So it’s a huge project given the scale of the country,” he says.
$10.5 billion GranMorgu project could reshape Suriname’s economy over the next decade
The film also examines environmental concerns linked to offshore development. Environmentalist Monique Pool says Suriname’s coastal ecosystems have remained “relatively untouched until now,” warning that increased industrial activity could affect wildlife and marine habitats.
Suriname looks to expand green energy options
At the same time, several interviewees argue that future oil revenues could help finance economic development and rainforest protection. Primatologist Russ Mittermeier says Suriname’s forests are among the most intact in the world and that oil wealth could help the country avoid more destructive industries such as large-scale deforestation or gold mining.
“It’s essential that the global community recognize the importance of these forests and help to maintain them because it’s not just good for Suriname. It’s good for everybody. And now with the oil wealth coming, they don’t have to cut down the forest. They’re going to be oil rich. And if they play their cards right, they could have the highest per capita income of any country in the world.” he said.
The documentary concludes by presenting Suriname at a pivotal stage, balancing expectations of economic transformation with the need for careful management of future oil revenues and environmental considerations.
