Monday, February 6, 2023

US$5.4 billion mega port for Suriname; to feature LNG facility, shorebase and economic zone

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Phoenix Development Company and Suriname’s Port Management Company, N.V. Havenbeheer, have teamed up to build a mega Deep-Water Port and Special Economic Zone – Port of Nickerie – in Suriname, with projected investment of approximately US$5.4 billion.

With several oil discoveries made offshore Suriname, the two companies are positioning themselves aptly to reap the expected benefits.

Director, Stephen Joslyn, explained that the multifaced project will be spread across 3,707 acres of land in Niew Nickerie, Suriname.

Joslyn shared that the project would feature onshore facilities to support an offshore Liquefied Natural Gas (LNG) plant, in anticipation of gas production in Suriname.

“We will be powering it from onshore and we already purchased a Seaman’s gas fired power plant, at 420 megawatts capacity. That will operate technology from Baker Hughes and the technology is modular so we would be able to build and expand capacity as more gas becomes available,” he explained.

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The mega port will feature an oil jetty with berths spread across 140 metres, a 6.6-hectare shorebase facility along with a multipurpose terminal.

“It’s positioned in the centre of the Guyana-Suriname Basin, and ideally, will service all Atlantic-markets and have infrastructure for the sustainable development of world-classes facilities to stimulate not just oil and gas but trade, agriculture, manufacturing and tourism. The idea is to add value to all the products in the region and create a cost-effective export route,” Joslyn added.

The port is expected to create over 1,000 jobs for locals in Suriname with that number expected to increase as the port expands. A concrete start-up has not been finalised as the companies are awaiting word on the availability of the gas offshore. When that is received, the facility is expected to be up and running within two years.

“Being a modular design, we can move that fast and get the facility operational,” he noted.

The planned port for Suriname shares similarities with another being built in neighbouring Guyana – the Port of Vreed-en-Hoop. It will also feature a shore base, economic zone and dry dock area to service Guyana’s oil sector.

Thus far, Suriname has churned out six successful oil finds offshore – five in Block 58 and one in Block 53. The blocks are operated by TotalEnergies and APA Corporation respectively.

TotalEnergies is expected to pronounce on a final investment decision net year for development of the resources at Block 58.

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