Portuguese 
English 
Spanish 
5 min of reading 
1 comment 
Understand How Suriname Is Highlighting in Offshore Oil Exploration, with New Hydrocarbon Reserves That Can Transform the Country into an Energy Power in South America
Suriname, a small country located on the northern coast of South America, has attracted the attention of the global oil industry. Following the success of Guyana in offshore oil exploration, Suriname stands out with promising discoveries that could put it on the map of major oil powers.
The significance of this discovery goes beyond the local economy. Analysts point out that the expansion of hydrocarbon exploration in Suriname could redefine the energy geopolitical landscape of South America, attracting international investments and creating new opportunities for jobs, technology, and infrastructure. This outlook places the country in a strategic position, directly competing with other South American nations in the oil sector.
Suriname: South American Country Set to Become the Next Oil Power
After the success of Guyana, which has stood out in recent years as a promising region for oil extraction, Suriname positions itself as the next focus of the global industry.
-
Petrobras approved the final investment decision for SEAP I (Sergipe Deep Waters), opening a new production frontier in the Northeast: Total investment for the two modules (SEAP I + SEAP II) exceeds R$ 60 billion, with an estimated production of more than 1 billion barrels of oil equivalent.
-
Oil continues to fall as negotiations advance between the United States and Iran and the expectation of greater global geopolitical stability.
-
Oil sees sharp drop after rumors of a deal between the United States and Iran raise hopes for an end to the war in the Middle East.
-
Brazil’s oil production soars and hits an all-time high for the second consecutive month, driven by the pre-salt and the advancement of energy sector giants.
As a small country located on the northern coast of South America, Suriname combines promising geological potential with an openness to international investments. Global companies see opportunities in offshore exploratory blocks that could yield more than 200,000 barrels per day.
The country has a growing economy, and the oil sector can further boost its development, attracting jobs, technology, and billion-dollar investments. Analysts indicate that the large-scale discovery and exploration of oil would transform Suriname’s strategic position on the continent.
Hydrocarbon Discoveries: Sapakara South and Krabdagu
In 2023, TotalEnergies announced positive results from the well evaluation in Sapakara South and Krabdagu, located in Block 58, offshore Suriname.
The combined reserves are estimated to be around 700 million barrels of recoverable oil. This volume puts Suriname on the international radar as a South American country set to become the next oil power, with the potential to produce large volumes of oil in deep waters.
Production will be carried out through a system of underwater wells connected to a floating production, storage, and offloading unit (FPSO), located approximately 150 km offshore.
The FPSO will have the capacity to process up to 200,000 barrels of oil per day, consolidating Suriname’s position as a strategic destination for offshore oil exploration.
Billion-Dollar Investments and the Leadership of TotalEnergies
TotalEnergies, in partnership with APA Corporation, leads the development of the project in Block 58, with estimated investments of US$ 9 billion. The forecast for production start is 2028, following the Final Investment Decision (FID) expected by the end of 2024, when detailed engineering studies (FEED) will be completed.
The investment includes infrastructure for underwater wells, modern FPSOs, maritime transport logistics, and local workforce training. This financial input demonstrates the confidence of multinationals in the economic and geological viability of Suriname, reinforcing its prospect of becoming a South American country set to become the next oil power.
Strategic Partnerships in Offshore Oil Exploration
In addition to TotalEnergies, other global companies are also investing in exploratory blocks in Suriname. ExxonMobil, in partnership with PETRONAS, has already confirmed the discovery of hydrocarbons in Block 52, while Petronas has initiated a drilling campaign with three exploratory wells in the same block. Shell plans to drill up to four wells in Block 65 starting in the second quarter of 2025.
These strategic partnerships indicate strong international interest in Suriname and reinforce the importance of offshore oil exploration in the region. The combination of abundant natural resources and advanced technology positions the country as an attractive market for new investments and energy infrastructure development.
Suriname with Geological Potential Comparable to the Brazilian Equatorial Margin
Suriname presents geological similarities with the Brazilian Equatorial Margin, known for its vast reserves of oil in deep waters. This similarity has attracted companies like TotalEnergies, which has already invested in exploratory blocks in the Amazon River Mouth Basin in Brazil.
Geologists point out that the configuration of the subsurface and the presence of deep sedimentary basins increase the probability of new discoveries of hydrocarbons on a large scale. These geological factors are decisive in positioning Suriname as a South American country set to become the next oil power, following the successful model of Guyana.
Challenges and Opportunities for Suriname
Despite the potential, Suriname faces significant challenges. Port, logistics, and energy infrastructure is still limited, requiring additional investments to support large-scale production.
Training the local workforce and implementing sustainable environmental policies are essential to ensure that the growth of the oil sector is safe and responsible.
On the other hand, the opportunities are significant. The entry of multinational companies brings cutting-edge technology, expertise in offshore oil exploration, and funding for large-scale projects. The expansion of the oil sector can generate direct and indirect jobs, increase tax revenue, and strengthen the country’s economy.
Suriname: Energy, Economy, and Strategic Position in South America
The future of Suriname in the global energy landscape looks promising. With significant hydrocarbon discoveries and billion-dollar investments in offshore oil exploration, the country has the potential to become a regional oil power. If current projects proceed as planned, deep-water oil production could transform the economy and geopolitical relevance of the country.
In addition to economic growth, oil exploration could attract investments in infrastructure, such as roads, ports, and power grids, while also stimulating the development of local services and industry. Suriname’s strategic position on the northern coast of South America makes it a key point for maritime transport and the export of oil to international markets.
The transformation of Suriname into a new oil hub reinforces the importance of the South American equatorial region in the global energy context, contributing to the diversification of the energy matrix and to the stability of oil supply in the international market.
The combination of abundant natural resources, strategic investments, and cutting-edge technology creates a favorable scenario for Suriname to achieve global prominence in the coming years.
Ridículo! Nem a Guiana nem o Suriname ganham com a exploração do petróleo: são as poderosíssimas petrolíferas estadunidenses e européias que sugam o óleo ganham bilhões de dólares e dão a esses países algumas migalhas de milhões de dólares. É de deixar indignado como as petrolíferas estão roubando a Guiana Inglesa e ela não pode fazer nada. Portanto, não é nenhuma vantagem multinacionais explorarem o petróleo com suas tecnologias, elas se apropriam de toda a riqueza e não geram desenvolvimento e distribuição igualitária para a população, esta fica apenas com os custos ambientais e econômicos deste roubo.