Exploration and development of oil and gas resources in the ex Dutch colony of Suriname, now an independent country, was the main point of the agenda addressed by Brazilian foreign minister Carlos Franca and his Surinamese peer Albert Randim, during a meeting held in Brasilia.
The Hess Exploration company is betting strongly in the opportunities of its Guyana operations. With a 30% interest in the Stabroek Block, it has allotted more than 80% of its capital and exploratory budget of US$1.9 billion for 2021 to its offshore blocks.
Guyana goes to the polls this Monday in a pivotal election in one of South America's poorest nations, where a coming oil boom is set to reshape an ethnically-divided political landscape.
Apache Corp and Total SA announced they had made a major oil discovery in a closely watched area off the coast of South America’s Suriname, sending Apache’s shares surging nearly 27%.
United States-based oil giant ExxonMobil says the latest oil discovery in Guyana will help bring production to more than 500,000 barrels per day. In a statement, the oil company said that it was satisfied with the discovery in the Pacora Well that was safely drilled to a depth of 18,363 feet in 6,781 feet of water. It said drilling began on January 29 this year.