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Beyond Oil Exploration, Cooperation Between Brazil and Suriname Will Be Promising in the Areas of Trade, Investments in Energy, Security, as Well as Migratory and Consular Issues.
Suriname, which has discovered giant oil reserves in the deep waters of the Atlantic Ocean, is considering favoring the Brazilian state-owned company Petrobras, which has vast experience in this area. This was stated by Brazilian President Jair Bolsonaro on Thursday during his visit to the neighboring country.
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“I appreciate what we recently talked about regarding the possible priority that could be given to Brazil, through Petrobras, in coming here to collaborate in oil and gas exploration”, said the Brazilian head of state in a press statement with Suriname’s President, Chandrikapersad Santokhi, after their meeting on January 20 in Paramaribo.
Watch Below the Official Visit of President Bolsonaro to Suriname
Brazil Offers Suriname and Guyana Its Experience in Deep and Ultra-Deep Oil and Gas Exploration
The Brazilian president admitted that one of the purposes of his visit to Suriname last Thursday and to Guyana on Friday is to offer the two neighboring countries the experience Brazil has in offshore oil and gas exploration.
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Petrobras, which extracts more than 95% of the oil it produces from maritime basins, is a world leader in oil and gas exploration in deep and ultra-deep waters.
Petrobras has several decades of experience in exploring hydrocarbons from underwater deposits and is already exploring gigantic reserves in maritime basins off its northern Brazilian coast, near the basins where Suriname and Guyana have found their deposits.
In a live social media broadcast to his followers on Thursday night, Bolsonaro reiterated that the president of Suriname promised to study the possibility of giving Brazil “priority and preference” in the exploration of these reserves through Petrobras.
In the same broadcast, Brazil’s Minister of Mines and Energy, Bento Albuquerque, who is accompanying the leader on his visit, assured that in the basin off Suriname and Guyana, “proven reserves correspond to 40% of what Brazil discovered in the pre-salt”.
The pre-salt is an exploration horizon that Petrobras discovered in the very deep waters of the Atlantic, beneath a two-kilometer-thick salt layer, whose reserves could make Brazil one of the top five oil exporters in the world.
Energy Cooperation Also Foresees the Possibility of Suriname Meeting Electricity Supply Needs of Northern Brazilian States, Which Depend on Energy Imported from Venezuela.
“There is a lot of gas and oil that these countries have. That is why these countries value Brazil so much, which already has a lot of experience in this area”, said Albuquerque.
“One of the priorities (of the visit) is regional energy integration, due to the great potential that these two countries have”, he insisted.
Energy cooperation, including in the oil and gas sector, was one of the highlights of the Joint Declaration issued by Bolsonaro and Santokhi after their appointment.
According to the document, the two countries committed to “analyze the possibilities, in light of the development of the offshore oil and gas industry in Suriname, for cooperation related to technical and institutional capacity building, local content development, and renewable energies”.
Energy cooperation also foresees the possibility of Suriname meeting part of the electricity supply needs of northern Brazilian states, which are not connected to the national electrical grid and depend on energy imported from Venezuela.
In the Joint Declaration, both countries also committed to “exchange information on their respective national energy plans and to share regulatory experiences in the oil and gas sector, including local content regulation, as well as collaboration in accident prevention due to oil spills”.
Suriname Thanks Brazil for Donating Covid Vaccines to Its Country
In the statement they offered to the press together, the president of Suriname thanked Brazil for the Covid vaccines donated to his country and highlighted the important cooperation between the two countries, reflected in a record of 25 different projects.
He added that he hopes this cooperation will be extended to new areas, “I am convinced that our cooperation in the future in various areas, including trade, investments in energy, including oil and gas, security, defense, as well as migratory and consular matters, will certainly yield concrete results for mutual benefit”, said Santokhi.
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