The Supervisory Board of Staatsolie and President Chan Santokhi reviewed changes in the oil and gas sector during the President’s Cabinet meeting. Energy costs, present drilling, and the development of hydropower plants were among the topics covered. Four presentations about the oil discoveries off the coast of Suriname were made by the Supervisory Board.
Presentations claim that Suriname has world-class oil reserves. Additionally, the Supervisory Board officially informed Santokhi of the letter from APA Corporation. The business declared on February 8 that the Sapakara South-2 (SPS-2) appraisal well had been successfully drilled and flow tested.
The second evaluation well to evaluate the previously reported discovery is SPS-2. The assessment well, Sapakara South-1 (SPS-1), is about 4.6 kilometers south of the well. In SPS-2, the Campano-Maastricht reservoir contains around 36 meters of high-quality oil and gas.
According to the findings of the flow and pressure tests, there is more than 200 million barrels of oil in the well. The offshore, the ongoing oil operations in Saramacca, the manufacturing of gasoline and diesel, and the provision of energy from the Afobaka hydroelectric power station are the focus of Staatsolie’s policies.
The dam’s upkeep is another top responsibility. It has been determined that agricultural areas won’t flood if the reservoir’s water level is kept to a minimal. Director Annand Jaggesar believes that emissions need to be decreased, hence Staatsolie intends to pursue green energy policies. According to the Communication Service Suriname, Jaggesar discusses promising prospects in the oil and gas industry.