South America / GoM

Suriname flag
Summary | Profile

Country profile: Suriname

Location: Northern South America, bordering the North Atlantic Ocean, between French Guiana and Guyana
Climate: tropical; moderated by trade winds
Terrain: mostly rolling hills; narrow coastal plain with swamps
Size: 163270 sq. km total (Land area: 161470 sq. km  Water area: 1800 sq.km)
Population: 475,996 (July 2008 est.)
Languages: Dutch (official), English (widely spoken), Sranang Tongo (Surinamese, sometimes called Taki-Taki, is native language of Creoles and much of the younger population and is lingua franca among others), Caribbean Hindustani (a dialect of Hindi), Javanese
Government: constitutional democracy
Capital city: Paramaribo
Legal system: based on Dutch legal system incorporating French penal theory; accepts compulsory ICJ jurisdiction with reservations
Currency: Surinam dollar (SRD)
Licensing:

Country profile

The islands of the Caribbean basin are predominantly net energy importers, with the exception of Trinidad and Tobago. Agriculture and natural resource extraction activities continue to constitute the basis of the islands' economies, though the tourism and service sectors are growing. In recent years, the Caribbean countries have been worried that higher global oil prices will impair their efforts to expand economically. In response, the island nations have been discussing ways to better integrate their energy sectors, especially in regards to increased natural gas exports from Trinidad and Tobago to other islands. These efforts have also focused on the major external energy suppliers to the region, such as Mexico and Venezuela.

First explored by the Spaniards in the 16th century and then settled by the English in the mid-17th century, Suriname became a Dutch colony in 1667. With the abolition of slavery in 1863, workers were brought in from India and Java. Independence from the Netherlands was granted in 1975. Five years later the civilian government was replaced by a military regime that soon declared a socialist republic. It continued to exert control through a succession of nominally civilian administrations until 1987, when international pressure finally forced a democratic election. In 1990, the military overthrew the civilian leadership, but a democratically elected government - a four-party New Front coalition - returned to power in 1991 and has ruled since; the coalition expanded to eight parties in 2005.

Energy production and consumption


Oil Gas
Production: 9,461 bbl/day (2005 est.) NaN 
Consumption: 12,000 bbl/day (2005 est.)  
Exports: 3,151 bbl/day (2004 est.)  
Imports: 6,032 bbl/day (2004 est.)  
Reserves: 111 million bbl (1 January 2006 est.)  
Major fields:



Suriname - recent news

07 Jun 24
Suriname: SBM Offshore reserves Fast4Ward hull for the Block 58 development offshore Suriname
SBM Offshore has announced that, in partnership with Technip Energies, and in line with the Front End Engineering and Design (FEED) studies for a Floating Production, Storage and Offloading vessel (FPSO) for the development project located in the Block 58 in Suriname, a Fast4Ward hull for the development project has been reserved by TotalEnergies.
05 Jun 24
Suriname: TotalEnergies, APA Corporation and Staatsolie progress towards Final Investment Decision on Block 58
On the occasion of the 2024 Suriname Energy Oil and Gas Summit, TotalEnergies, and Staatsolie Maatschappij Suriname, the Suriname National Oil Company, announced several significant steps towards the Final Investment Decision (FID) of the development of offshore Block 58. This decision is expected in the fourth quarter of 2024, for a production start-up in 2028.
21 May 24
Suriname: PETRONAS discovery in Suriname approaches 400 million barrels - Wood Mackenzie
According to a report by Wood Mackenzie, PETRONAS discoveries Roystonea and Fusaea are in the region of 400 million barrels of recoverable resources, which could be enough to support an FPSO with an oil processing capacity of up to 100,000 b/d FPSO development. Wood Mackenzie now holds Suriname's discovered resources at more than 2.4 billion barrels of oil and liquids and more than 12.5 tcf of gas.
16 May 24
Suriname: PETRONAS makes latest oil and gas discovery in Suriname's offshore Block 52
PETRONAS has made a third hydrocarbon discovery in Block 52 at the Fusaea-1 exploration well in Suriname’s Block 52, located about 170 kms offshore and 9 kms east from Roystonea-1. The well encountered several oil and gas-bearing Campanian sandstone reservoir packages.
05 Mar 24
Suriname: Staatsolie and Block 52 partners PETRONAS and ExxonMobil sign LoA for appraisal of gas discovery made in 2020
Staatsolie Maatschappij Suriname has signed a Letter of Agreement (LoA) with PETRONAS and ExxonMobil for further exploration of the gas discovery made in 2020 with the Sloanea-1 exploration well in Block 52.

Suriname - more news

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