The early-stage discussions are part of Suriname’s efforts to increase foreign investment in its energy production and turn the South American nation into a regional gas hub
to encourage joint development of natural gas fields that straddle its and Guyana’s maritime borders, the head of its state oil firm told Reuters late Tuesday.
The Exxon consortium has outlined six projects in Guyana, where it has confirmed more than 11 billion barrels of recoverable resources, mainly for production of more lucrative crude oil. A seventh project could be the group’s first to mainly focus on gas. Differences in taxation and other fiscal terms between the two countries are also among the challenges that must be addressed before any joint gas development can take place, he said.Even though the first project in Suriname scheduled to begin offshore output – TotalEnergies and APA’s Block 58 – initially will be focused on oil, the country sees itself as a potential gas hub for the region.
Petronas could pursue a liquefied natural gas project using Suriname’s gas if discoveries allow. Petronas and Staatsolie have agreed to special fiscal terms through a contract addendum that will give the company a tax-free period of ten years from the start of production. Those negotiations could be extended to other companies, the executive said.
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