Recent exploration and licensing activity indicates that investors are positioning Suriname as a long-term offshore growth market rather than a country dependent solely on the GranMorgu oil project, according to Rystad Energy.
The research firm said the central question is whether Suriname can establish multiple offshore production hubs after GranMorgu begins operating.
“The key question is no longer whether hydrocarbons exist, but whether Suriname can become a multi-hub province,” Rystad Energy stated. “The latest bid and discovery indicate investors see Suriname as a long-term growth story, not a one-project opportunity.”
The assessment was included among five developments Rystad Energy identified as having shaped Latin America’s upstream sector in June.
Suriname’s offshore outlook strengthened during the month after Petronas reported another gas discovery in Block 52. The discovery was announced during the Suriname Energy, Oil and Gas Summit in Paramaribo on June 23.
Petronas said eight successful wells in the block have established more than one billion barrels of oil equivalent. The company has already declared the Sloanea gas discovery commercially viable and is expected to decide during 2026 whether to proceed with its development.
A Block 52 project could become Suriname’s first offshore gas development. Plans under consideration include subsea infrastructure and a floating liquefied natural gas facility, with production targeted for 2030 if the investment is sanctioned.
The activity is separate from GranMorgu in Block 58, Suriname’s first sanctioned offshore oil project.
TotalEnergies operates GranMorgu with APA Corporation and Staatsolie. The US$10.5 billion development will produce resources from the Sapakara and Krabdagu fields using a floating production, storage and offloading vessel designed for 220,000 barrels per day. First oil is planned for 2028.
TotalEnergies also plans to drill four exploration wells in Block 58 in 2027. New discoveries could support a second development or be connected to GranMorgu infrastructure, depending on size and location.
Staatsolie is simultaneously offering more than 70,000 square kilometers of offshore acreage through its Open-Door offering. The process allows companies to propose exploration programs for available deepwater and shallow-water areas.
