Suriname election soothes investor nerves

Calmer political waters should help turn the country into a global exploration hotspot

The small Latin American nation of Suriname is poised for profound change. Revenues from major offshore oil discoveries announced this year could transform the country’s long-term economic prospects. And, following the resolution of an election deadlock, a new coalition government has finally wrenched power from strongman president Desi Bouterse after a decade at the helm. The relative political stability is good news for investors and progress on existing oil ventures. In July, US independent operator Apache made its third oil find of the year in block 58. Incoming president Chandrikapersad Santokhi has promised to honour existing contracts and remains supportive of the oil sector. “We expe