TotalEnergies CEO Patrick Pouyanne and Surinamese President Chan Santokhi after the announcement of French major’s Block 58 investment decision in 2024
Oil majors target Suriname as new exploration frontier
Companies including Shell, TotalEnergies and Chevron are turning to Suriname’s oil potential as South America’s smallest country seeks to replicate the success of neighbouring Guyana
Modern exploration activity in Suriname, which sits on South America's northeastern coast, was triggered after ExxonMobil found oil in 2015 in Guyana’s portion of the Guyana-Suriname Basin. Guyana’s oil exports more than doubled from about 101,000b/d in 2021 to 265,000b/d in 2024. TotalEnergies in October 2024 reached FID for the GranMorgu development offshore Suriname. The French major has said it expects production of 220,000b/d once the project starts in 2028. State-owned oil company Staatsolie has an option to enter with a stake of up to 20% and will finalise its interest before June this year. 40b bl – Suriname’s resource potential Shell has applied for permitting approval from
Also in this section
17 February 2026
The 25th WPC Energy Congress, taking place in Riyadh, Saudi Arabia from 26–30 April 2026, will bring together leaders from the political, industrial, financial and technology sectors under the unifying theme “Pathways to an Energy Future for All”
17 February 2026
Siemens Energy has been active in the Kingdom for nearly a century, evolving over that time from a project-based foreign supplier to a locally operating multi-national company with its own domestic supply chain and workforce
17 February 2026
Eni’s chief operating officer for global natural resources, Guido Brusco, takes stock of the company’s key achievements over the past year, and what differentiates its strategy from those of its peers in the LNG sector and beyond
16 February 2026
As the third wave of global LNG arrives, Wood Mackenzie’s director for Europe gas and LNG, Tom Marzec-Manser, discusses with Petroleum Economist the outlook for Europe’s gas market in 2026
