Saturday, September 18, 2021

Officials in South America’s newest multi-billion-barrel oil & gas basin advancing discussions

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A delegation from Guyana is currently in neighbouring Suriname to further discuss advancing areas of cooperation through the Strategic Dialogue and Cooperation Platform (SCDP). Guyana’s Ministry of Foreign Affairs said on Sunday the working visit serves to further streamline plans between the governments of the two countries.

Guyana’s delegation includes foreign minister Hugh Todd, public infrastructure minister Juan Edghill and agriculture minister Zulfikar Mustapha.

“The Ministers discussed several areas within the framework of the SDCP, among those were infrastructure and transport, agriculture and security,” the foreign ministry said.

Since the signing of the SDCP both countries have been actively engaging to advance the programme through the establishment of several working groups including infrastructure, agriculture, security, health and trade.

According to the foreign ministry, this weekend’s meeting paves the way in preparation of an official State visit of the President of Suriname, Chan Santoki, to Guyana.

Last year, leaders of the two countries discussed new opportunities from emerging sectors as the two neighbours face “similar challenges, circumstances and opportunities.” At the time, the two presidents had disclosed that they are examining the potential of a joint deepwater harbour to provide shore base services as exploration and production activities in the basin ramp up.

While Guyana only discovered oil in 2015, Suriname has been an onshore oil producer since the 1980’s. However, Suriname’s first of several offshore discoveries was made in January 2020. To date, Guyana’s offshore discoveries have been estimated to be over 9 billion barrels of oil equivalent resources at the Stabroek Block while Suriname’s resources at Block 58 where four discoveries have been made, are estimated to be about 6.5 billion barrels.

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