Suriname's Oil Boom: A New Dawn for Economy
Update: 2025-11-27
Description
Surinames oil discovery in Block fifty-eight, led by TotalEnergies and APA Corporation, holds up to six billion barrels of oil, offering a potential economic recovery. Despite initial delays, a ten billion dollar investment was announced in October 2024 to develop the Sapakara and Krabdagu oil fields, starting production in 2028. This development, named GranMorgu, aims to recover over seven hundred fifty million barrels of oil daily. Surinames national oil company, Staatsolie, acquired a twenty percent interest in the operation.
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