Halliburton, one of the world’s largest energy services companies, is set to expand its operations in Suriname. Chief Executive Officer, Jeffrey Miller, expressed strong interest in further investments in the country. These remarks were shared during a meeting with President Chandrikapersad Santokhi on August 7, 2024.
According to information from the Office of the President in Suriname, Halliburton currently operates a ‘Mud and Cementing Plant’, producing materials essential for offshore drilling. The company has had a presence in the country for 40 years, working on a smaller scale with Staatsolie in Suriname’s Saramacca.
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However, Miller believes the time is ripe for major growth in Suriname’s oil and gas sector. “I fully intend to further expand our current operations in Suriname,” he said.
The visit to Suriname included a tour of the existing Mud and Cementing Plant. Miller was accompanied by top Halliburton executives, including Francisco Tarazona, Vice President for Latin America, Franco Delano, Area Manager of the Caribbean, and Shivanand Pancham, Business Development Manager for the Halliburton Caribbean Group. Staatsolie Chief Executive Officer Annand Jagesar also participated in the discussions with President Santokhi.
President Santokhi welcomed Halliburton’s plans and emphasized the importance of local content in their operations. He praised the country’s favorable business environment, which he credits to the government’s revised economic policies. “Continuation of this policy is necessary to ensure that the economic and investment climate remains stable,” Santokhi stated, inviting further dialogue with Halliburton on their investment plans.
Staatsolie’s CEO, Annand Jagesar, urged Halliburton to mirror its Guyana operations by offering more equipment and services directly from Suriname.
“We want part of that money to stay in Suriname because the services are provided from here,” Jagesar emphasized.
Suriname’s first offshore development project, valued at US$9 billion, will be executed by TotalEnergies and APA Corporation, each holding a 50% share in Block 58. TotalEnergies will serve as the operator. A final investment decision (FID) is anticipated before the end of the year.
Suriname’s resource count is approximately 4.6 billion oil-equivalent barrels, according to Wood Mackenzie, with a significant portion being gas. In addition to the first oil development, Petronas, operating Block 52, is considering a possible gas project. Discoveries in this block could lead to a development producing 100,000 barrels per day.
