HOUSTON, TEXAS – TotalEnergies says discoveries offshore Guyana and Suriname continue to strengthen the Guyana-Suriname basin’s position as a major source of low-cost oil production.
Speaking on Day Two of the Offshore Technology Conference during the Around the World Panel Series, Jim Geary, Area Exploration Manager for Guyana, Suriname, U.S. Gulf and Mexico at TotalEnergies, said the basin remains attractive because of its geology and competitive development economics.
“This basin is clearly one of the most active petroleum basins in the world,” Geary said.
Geary noted the basin’s growth began with ExxonMobil’s Liza discovery offshore Guyana in 2015 and APA Corporation’s Maka discovery offshore Suriname in 2020.
ExxonMobil says Guyana can serve as investment hub for northern Brazil, Caribbean︱OilNOW
“The subsequent discoveries and projects of all blocks in both countries have confirmed importance and tremendous potential within this basin,” he said.
Guyana currently has four oil developments in production in the Stabroek Block: Liza 1, Liza 2, Payara and Yellowtail. ExxonMobil and its co-venturers are also advancing Uaru and Whiptail. In Suriname, TotalEnergies and APA Corporation are developing the GranMorgu project in Block 58, with first oil targeted for 2028.
Geary said the basin’s reservoirs continue to stand out even in deeper sections of the play.
“What makes this basin world class is the prolific source rock that’s within this basin, the high quality reservoir units that we see. Its advantaged barrels in this basin… they’re low cost, low carbon intensity,” he said.
The TotalEnergies executive also outlined the company’s expanding position offshore Guyana through the shallow water S4 block, awarded under Guyana’s licensing round. According to Geary, TotalEnergies plans to acquire more than 2,000 square kilometers of seismic data during the first exploration phase.
“Given this block is only covered by a few sparse 2D seismic data, our contractual commitment for phase one is acquire seismic data over 2000 square kilometers,” he said.
