Suriname is emerging as one of the world’s most promising new oil frontiers, thanks to a string of deepwater discoveries that have brought major players like Shell, TotalEnergies, Chevron, and Petronas to its offshore basin. Since 2020, the Dutch-speaking South American nation has secured approximately 2.2 billion barrels of oil equivalent (boe) in recoverable resources, according to a new report from Norway-based Rystad Energy. This positions Suriname as a key destination in the global exploration landscape, trailing only Namibia in new oil and gas discoveries.
TotalEnergies has led much of the momentum in Block 58, where it has discovered an estimated 1.6 billion boe. Petronas has followed with approximately 500 million boe in Block 52, while APA Corporation has reported another 100 million boe in Block 53. These discoveries are part of a broader trend that has seen frontier nations like Suriname, Namibia, and South Africa add roughly 15.5 billion boe in new reserves over the past few years.
Wood Mackenzie estimates Suriname’s total oil resources at more than 2.4 billion barrels and places the country’s natural gas reserves at an impressive 12.5 trillion cubic feet (tcf). Analysts say this growth is just the beginning, with multiple undrilled prospects and unexplored offshore acreage poised to deliver even more.
Operators are gearing up for an intensive drilling schedule between 2025 and 2027, planning to spud about 10 exploration wells in the Guyana-Suriname Basin. These efforts will focus on deepwater Blocks 63, 64, and 65, as well as shallow-water Blocks 5 and 8. The recent completion of a successful shallow-water licensing round and key farm-in agreements has further elevated industry interest.
One of the most closely watched developments is TotalEnergies’ Macaw-1 prospect in Block 64, where the Stena DrillMAX rig is slated to begin drilling soon. The GranMorgu field, Suriname’s first offshore development, holds an estimated 750 million barrels of oil and will be brought online via a floating production, storage, and offloading (FPSO) vessel being built by SBM Offshore. The vessel is expected to produce up to 220,000 barrels per day from roughly 30 wells, with first oil targeted for 2028.
President Chan Santokhi’s administration has championed energy development as a pathway to national economic transformation. With strategic licensing, global partnerships, and strong geological potential, Suriname is well-positioned to become a key player in the Atlantic oil boom, following in the footsteps of neighboring Guyana.
SOURCE: Oil Now (Guyana)