Regional

South American neighbours Guyana and Suriname are emerging as key regional players in the oil and gas industry with growing discoveries off their coasts and multiple projects on the horizon. Three are already in production on the Guyana side...

Moody's Ratings has upgraded Suriname's long-term local and foreign-currency issuer ratings from Caa3 to Caa1. The outlook is now positive, reflecting the anticipated economic benefits from a significant offshore oil project. This change is driven by TotalEnergies' recent decision...

The GranMorgu Development is being seen as a historic milestone in Suriname’s oil and gas sector. “What seemed like a distant dream is becoming a reality,” said Annand Jagesar, Managing Director of state oil company Staatsolie.  According to Staatsolie, the name...

Suriname President Chandrikapersad Santokhi promised prosperity for Surinamese, and a principle of leaving no one behind, as the final investment decision was made for the first-ever offshore oil development at Block 58.  "Our policy, and this should apply to any...

Trinidad and Tobago's Ministry of Energy and Energy Industries (MEEI) has finalized a Production Sharing Contract (PSC) for Block Modified U(c) with BG International Limited (BGI), a subsidiary of Shell. The signing took place on 27th September 2024 at...

Pre-FEED engineering work has commenced on Woodside Energy’s Calypso Project, located 220 km off Trinidad's coast in water depths of 2,100 meters. This development follows the completion of conceptual studies and the selection of an infield host as the...

TotalEnergies’ Block 58 development offshore Suriname is set to play a key role in driving subsea tree demand for the remainder of 2024, according to Westwood Global Energy group.  The project will involve drilling around 30 wells over 2.5...

Staatsolie, Suriname’s state oil firm, has announced plans to issue bonds in 2025 as part of its strategy to finance participation in the first offshore oil production field in Block 58. The company is entitled to a maximum 20%...

Suriname’s state oil company Staatsolie plans to host an auction for every year until all of its offshore acreage is under contract.  Its Managing Director, Annand Jagesar, disclosed this to OilNOW in an exclusive interview at its headquarters in Suriname’s...

With TotalEnergies starting the groundwork for Suriname’s first offshore oil development, the company in its environmental and social impact assessment (ESIA) underscored the importance of the country being realistic with its local content targets.  “Unmet expectations about employment opportunities may...