Suriname readying bond issue for US$2.6bn upstream contribution
Suriname’s national oil company Staatsolie plans to launch a bond issue this month to support the GranMorgu project at deepwater block 58.
In an update, the NOC said it will assume a share of up to 20% in the development with a contribution of US$2.6bn, which will also be financed through loans and/or partnerships.
TotalEnergies and APA announced a final investment decision for block 58 in October, with capex estimated at US$10.5bn and first oil expected in 2028.
Regarding other offshore activity this year, Staatsolie highlighted that five exploration wells have been committed to and promotion of unexplored offshore acreage will continue.
On the onshore front, projects will continue to maintain current oil production levels, with exploration in the Coronie and Uitkijk areas targeting new reserves.
Coronie and Uitkijk are adjacent to Suriname’s only crude producing areas: Staatsolie-operated blocks Calcutta and Tambaredjo. Output last year totaled 6.4Mb compared with 6.27Mb in 2023.
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News in: Oil & Gas (Suriname)
‘No red flags’ for Suriname offshore development nod
The final investment decision for block 58 is expected next quarter.
Suriname’s Staatsolie sets near-term capex plan at US$275mn
The bulk of capex will look to sustain onshore crude production.
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