ExxonMobil Withdraws From Offshore Suriname Development

Suriname has been a very minor crude oil producer over the past few decades, with minimal output from its onshore reserves. But with more than a dozen offshore blocks already awarded for development and production set to spike in the coming years, the small South American nation looks primed to follow in the footsteps of its next-door neighbor, Guyana, which is amid an oil-production boom. In today’s RBN blog, we’ll look at the status of Suriname’s offshore developments, the major players involved, and what we know about the crude grades to be produced there. 

Guyana’s rise as a crude oil producer in recent years can only be described as meteoric. If forecasts from some of the most respected international agencies pan out, the South American country’s output may soon rival some of the world’s biggest offshore producers. But the developments there are not without some controversy: they’re the centerpiece of a dispute over the proposed Chevron-Hess merger, while neighboring Venezuela claims that much of Guyana’s oil reserves are actually within Venezuelan territory. In today’s RBN blog, we’ll take a deep dive into Guyana’s production, examining its grades, quality and export flows as it transforms into a major global supplier. 

As crude oil production surges off the coast of Guyana, its eastern neighbor, Suriname, has set off on its own mission to become a global oil supplier. With some onshore production active for decades, the tiny South American nation now has its sights set on developing its vast offshore reserves. While there have been some setbacks, its international partners are getting their plans back on track. In today’s RBN blog, we’ll take a deep dive into what’s ahead for Suriname.