Between the 2024 installment of the Suriname Energy Oil and Gas Summit and Exhibition (SEOGS) and its return this June, the country’s energy sector has experienced its most transformative changes to date.
Suriname is no longer standing at the edge of a frontier, it has stepped onto the path of becoming a deep-water oil producer.
As stakeholders gather in Paramaribo from June 17 to 20 for the fifth edition of SEOGS, the focus will be on translating exploration success into long-term national benefit. The summit is expected to bring together operators, investors and policymakers to assess progress and set priorities amid growing regional competition and a rapidly evolving energy landscape.
Here are the most consequential developments that have taken place since SEOGS 2024:
Final Investment Decision (FID) for Block 58: In October 2024, TotalEnergies and APA Corporation approved the $10.5 billion US development of Block 58, marking Suriname’s official entry into the offshore oil production phase.
Contracts awarded to global contractors: SBM Offshore in partnership with Technip Energies to construct and install the floating production, storage and offloading vessel (FPSO) as well as Subsea7 and Saipem, selected to build the offshore infrastructure, bringing global supply chains into alignment with Suriname’s project timeline.
ExxonMobil exited Block 52: In late 2024, ExxonMobil withdrew from Block 52, transferring its 50% stake to Petronas. The decision reflects a strategic pullback and leaves Petronas with full control of the gas-prone block.
Petronas drilled the Sloanea-2 appraisal well: Despite Exxon’s exit, Petronas advanced its plans in Block 52, drilling the Sloanea-2 appraisal well to assess commercial potential of the gas discovery.
Early infrastructure preparations underway: Preliminary logistics and onshore planning began, especially related to port expansion and shore base development in support of deepwater operations.
Staatsolie advances solar power development: Staatsolie plans to build a 30 MW solar photovoltaic plant, marking a significant step toward diversifying Suriname’s energy mix. In addition, on June 4, 2024, Staatsolie signed a Memorandum of Understanding with the National Energy Corporation of Trinidad and Tobago to explore further solar power development, with potential installations exceeding 45 MW in Suriname.
SEOGS 2025 expands in scale, format and location
Now in its fifth year, the summit will host over 12,000 visitors and 250 companies. It will feature a three-day technical conference alongside a four-day executive summit, both running concurrently to support broader and more targeted engagement. To accommodate this growth, SEOGS will move to Roeli’s Event Venue on Kronenburgweg.
In the meantime, Suriname continues cross-border discussions with Guyana and Trinidad & Tobago, especially in areas such as natural gas development, skills training and regulatory coordination.
Looking ahead, the next 18 months are expected to bring a wave of drilling activity, with up to 10 exploration wells planned across several offshore blocks by operators including TotalEnergies, Shell, Chevron and Petronas. These campaigns will further delineate Suriname’s resource base, which currently stands at an estimated 2.2 billion barrels of recoverable oil equivalent.
