Suriname prepares for its first offshore oil project that is expected to ease deep poverty

By GEROLD ROZENBLAD
Associated Press

PARAMARIBO, Suriname (AP) — Suriname for the first time in its history will see offshore oil drilling in its waters after French company TotalEnergies announces a $9 billion project expected to boost the impoverished country’s economy and ease austerity measures imposed by the International Monetary Fund.. CEO Patrick Pouyanné said Wednesday that previous exploration suggests the two sites where the company would drill could yield close to 700 million barrels, with first production expected by late 2028. TotalEnergies is the operator of the oil block and equal partner with Texas-based APA Corp., an energy company. The announcement was celebrated by Suriname President Chan Santokhi, who pledged that the people of the South American country would benefit from the investment.