Suriname President Chandrikapersad Santoki, while speaking at the 2023 International Energy Conference and Expo on Tuesday, shared that his country and Guyana should further partner to explore natural gas opportunities together.
According to the Head of State, the extraction of Surinamese gas was so far not profitable, however the war in Ukraine changed the situation, and his country’s resources can now offer a solution.
“The extraction of Surinamese gas was so far not profitable. However, the war in Ukraine changed the situation and Surinamese gas can offer a solution. Suriname and Guyana should explore these opportunities together by developing a joint programme.
“Suriname and Guyana will share expertise and resources, save costs, reduce risk, improve our relation, and develop the border areas… to increase production and also promote greater transparency and accountability,” Santokhi remarked.
Moreover, he noted that his country is open to doing business in all streams of the oil and gas sector, sharing that the industry plays a vital role in the economic development of the country.
The President added that Suriname is also currently in the process of developing its offshore oil and gas resources to provide energy security, which will create jobs and promote economic growth.
Santokhi said “this industrial development…can catalyze new economic opportunities and the creation of an economic free zone can be explored. This will create a hub function from the Caribbean region to South America, by air and by sea. We must make fundamental decisions for such as strategic energy cooperation between Suriname, Guyana and Brazil.”
“We bonded our investment ideas by signing of cooperation agreement, the bridge over the Corentyne River and water transportation will open our gates for expansion with our Brazilian neighbours… and cross border field developments are common throughout the global oil and gas industry.
“It is now time to step up our giant activities and interactions so that we can take advantage of the opportunities that currently exists. We must bring together all the media, public and private sector stakeholders across the entire energy value chain to lead this planet to sustainable development,” Santokhi posited.
