Wood Mackenzie analysts have estimated that discoveries in Suriname have now opened access to 2.4 billion barrels of oil and 12.5 trillion cubic feet of natural gas in reserves.
Crude oil discoveries in Suriname have opened access to some 2.4 billion barrels in reserves, Wood Mackenzie analysts have estimated. The consultancy also reported the South American nation holds some 12.5 trillion cubic feet in natural gas reserves. The project closest to commercial production is a discovery made by Petronas with its partner Exxon in two Suriname blocks. According to Wood Mackenzie, production there could begin at a daily processing rate of 100,000 barrels.
However, exploration efforts have taken longer in Suriname and the colossal success of Exxon with the Stabroek Block and its dozen discoveries has yet to be replicated in Guyana’s neighbor. Petronas and Exxon specifically reported unsatisfactory results from a drilling project in Block 52 a couple of years ago. This week, however, the two struck oil in the same block, reviving hopes of an oil and gas boom in Suriname.
Crude Oil Reserves Discoveries Natural Gas Production
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