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President: Step closer to commercial exploitation of oil & gas

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President Chan Santokhi welcomes the first successful oil reservoir in block 53. He said in a statement that the results of the drilling in block 53 give a good indication of the enormous potential that Suriname has as a player within Oil & Gas.  Suriname is one step closer to commercial exploitation.  The President was formally notified yesterday of the results of the drilling operations in  Block 53 and Block 58 offshore areas.

Santokhi pointed out that the results  presented  make them more and more optimistic of the future. The presentation from block 58 points to the complexity and dynamics of this industry.  The results showed a water reservoir in this block.  The results at block 53 give a good indication of the enormous potential that Suriname has as  a player in the field of Oil & Gas.

Spokesman Alven Rooseveld reported that the president has been informed that the drilling machines are now on two other wells in block 58, which will provide even more information for the first offshore development. The President announced that they are awaiting further information from the oil companies. Intensive discussions are now being held between Staatsolie and the companies regarding the first development in the offshore industry. This is to arrive at the so-called Final Investment Decision.

Suriname offshore areas are showing positive prospects and the nation is being prepared on land to respond to the future where oil and gas are indispensable.  Public and private partnership is highly valued by this government.  The driving of the first pile by DP World in Commewijne, the port of the firm Kuldipsingh and preparations in Nickerie of N.V. Havenbeheer-Phoenix off shore, which have already been approved by the Council of Ministers, show that this chosen path bears sufficient confidence.

The president also added that these results further highlight how crucial it is to tackle the policy-affecting oil and gas with united forces.  The policy direction is still to ensure that the energy resources that are now identified are used in such a way that the future generations  can build on the results of the choices that have been made. The intended transition to green energy will be realized with the projected revenues.

 The president said that as a nation, they are getting closer to commercial exploitation. He once again takes this opportunity to call on the nation to join forces to realize the nation’s special potential.

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