Suriname should learn from Africa’s missteps as it develops its offshore oil industry, not just its successes. Executive Chairman of the African Energy Chamber NJ Ayuk called on the South American country to avoid the pitfalls that have hindered Africa’s energy sector.
“You don’t have to learn from our success. Learn from our mistakes,” he said at a Symposium last month. “We have been victims of resource mismanagement, lack of local participation, and poor governance. Don’t look at our success. Look at our failures.”
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Ayuk outlined Africa’s struggles with energy poverty, despite its vast natural resources. “I live in South Africa, where eight to 10 hours a day we have no electricity. Africa’s most industrialized nation ends up in the dark. Outside South Africa, from Uganda to Ghana, 600 million people lack access to reliable power. This is a human rights issue.”
He dismissed criticisms of Suriname’s plans to produce oil as well as concerns over global emissions. “Someone asked me, ‘Why are you supporting Suriname’s oil production?’ I said, ‘Why not?’ If Suriname produces 230,000 barrels a day, that’s just 1.2% of what others produce. Meanwhile, Suriname has 94% forest cover, acting as a carbon sink. Why should they apologize for using their natural resources to improve lives?”
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Ayuk is vocal about how western environmental lobbyists treat the oil and gas industry in Africa and South America. He argues that their opposition to oil extraction could put those nations in a position that leaves them dependent on handouts. He insists that countries should extract their resources, so they can be on a path to self-sufficiency.
Suriname is joining its neighbor Guyana in offshore oil production. The GranMorgu field holds an estimated 750 million barrels of oil, with first oil expected in 2028. A floating production, storage, and offloading (FPSO) vessel will produce up to 220,000 barrels per day from around 30 wells. This is being constructed by SBM Offshore.
