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Santokhi: Postponing oil output won’t cause projects to stall

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Staatsolie’s declaration that Suriname will not engage in offshore oil production before 2027 has not perturbed President Chan Santokhi. This, based on a number of factors that have emerged from the current exploration phase. The government continues with the programs it is carrying out. The deep-water port being built in Nickerie to serve as an economic hub and the recently initiated first agricultural technology collaboration between Suriname and China are both mentioned by the president.

200,000 hectares of land have already been made available by the government to expand the agricultural industry. Additionally, 10 million euros have been set aside for the production and agricultural industry. According to Santokhi, it was anticipated that the first offshore oil production would be delayed as a result of the deferral of the Final Investment Decision (FID). He claims that starting this requires extensive planning. President Santokhi claims that delays and postponements have an impact on Suriname’s financial, energy, and economic sectors. The government will exert every effort to bring the key players in the energy sector together and encourage an integrated strategy.

The president said via the Suriname Communications Service that since the major development has been delayed from its original anticipation of 2025, Suriname can now properly prepare for it. For instance, more money might be invested in local content and young people may be better equipped for the oil industry. The chief of state emphasizes that many Surinamese will have earned degrees in the oil and gas industry by 2027; the training programs for this have only begun.

Santokhi claims that the manufacturing sector needs additional investment, thus the government will keep putting its attention there. Additionally, Suriname will need to increase exports in order to increase revenue. Agriculture will also get some attention. According to the chief of state, there was no money lost throughout the exploration. He thinks there are possibilities and hazards involved with investing. This offers Suriname security and ultimately a promising future.

 

 

 

 

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