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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
Suriname’s upstream enters new era
The country’s offshore basin remains highly competitive and attractive to IOCs, despite the presence of some geological challenges
International firms compete for Uruguayan blocks
The country’s frontier upstream continues to attract interest
Mozambique upstream progress defies unrest
The east African country continues to attract investment in oil and gas projects, but concerns over security are still impeding developments in the gas-rich north
ExxonMobil takes a chance on India’s upstream
The major’s involvement is a win for New Delhi as it seeks to promote offshore exploration
US politicians up windfall tax rhetoric ante
Surging downstream profits add fuel to the fire, but the spectre of demand destruction lurks
TotalEnergies targets 2027 startup for Papua LNG
Close collaboration between IOCs in Papua New Guinea means other developments may follow
ExxonMobil signs up for LNG from Next Decade
The deal continues the trend of developers making long-term agreements to start in the second half of this decade and is another milestone for the Rio Grande project
Guyana yields more discoveries
Two more finds have been made at the upstream frontier’s prolific Stabroek block
Paper progress only in Iraq
Oil Ministry claims around key IOC investments ignore its lame duck status
Suriname Apache ExxonMobil
Charles Waine
11 August 2020
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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

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