Suriname prepares for its first offshore oil project that is expected to ease deep poverty
Published on: Wednesday 13 September 2023
Suriname for the first time in its history will see offshore oil drilling in its waters after French company TotalEnergies on Wednesday announced a $9 billion project expected to boost the impoverished country’s economy and ease austerity measures imposed by the International Monetary Fund. CEO Patrick Pouyanné said previous exploration suggests the two sites where the company would drill could yield close to 700 million barrels, with first production expected by late 2028. TotalEnergies is the operator of the oil block and equal partner with Texas-based APA Corp., an energy company.
