Oil Majors Are Eyeing Suriname Offshore Boom

Attracting oil investment from foreign companies only became possible after discovery of oil in deep water wells in 2015. Suriname’s nationalized oil company Staatsolie controls most of the industry.

RIO DE JANEIRO, BRAZIL - (Oilprice.com) Majors are eying Suriname as the next big oil player. With recent success in neighbouring Guyana, Suriname offers hope for low-cost oil exploration and production going into 2021. Exxon Mobil, Royal Dutch Shell, Total, and Apache are all showing interest in the South American state, hoping Suriname will provide oil for as little as US$30 to US$40 a barrel thanks to lower production costs. This is well below the average US production cost of almost US$50 per barrel.

After years of political unrest, Suriname is eager to make a name . . .

To read the full NEWS and much more, Subscribe to our Premium Membership Plan. Already Subscribed?