Oil majors target Suriname as new exploration frontier

Companies including Shell, TotalEnergies and Chevron are turning to Suriname’s oil potential as South America’s smallest country seeks to replicate the success of neighbouring Guyana

Modern exploration activity in Suriname, which sits on South America's northeastern coast, was triggered after ExxonMobil found oil in 2015 in Guyana’s portion of the Guyana-Suriname Basin. Guyana’s oil exports more than doubled from about 101,000b/d in 2021 to 265,000b/d in 2024. TotalEnergies in October 2024 reached FID for the GranMorgu development offshore Suriname. The French major has said it expects production of 220,000b/d once the project starts in 2028. State-owned oil company Staatsolie has an option to enter with a stake of up to 20% and will finalise its interest before June this year.  40b bl – Suriname’s resource potential Shell has applied for permitting approval from