(World Oil)– The American international oil and gas company Hess (Suriname II) Exploration Limited (Hess) will relinquish Block 59 in offshore Suriname on 8 July 2025. The block will return to Staatsolie and become part of the open acreage. Hess fulfilled its minimum work obligations and has decided not to move forward to the next phase of the exploration period,
(Oil Price) – Saipem has won a $1.9-billion contract from TotalEnergies for engineering, procurement, construction, and installation (EPCI) at the $10.5-billion GranMorgu oil project offshore Suriname, the Italian engineering group said on Thursday. Saipem will work on the engineering, procurement, supply, construction, installation, pre-commissioning, and assistance for the commissioning and start-up of the Subsea Umbilicals, Risers and Flowlines (SURF) package at the project,
(Oil Price) – Two of the world’s latest oil exploration hotspots, South American neighbors Guyana and Suriname, could become major LNG exporters early next decade if they develop the vast non-associated natural gas resources discovered in their offshore blocks. The resource is there, the costs could be competitive, and export destinations plentiful—from other countries in central and South America to Southeast
(World Oil) – Suriname, which is on the verge of becoming a major South American energy producer, is ruling out more borrowing against future oil production, according to its finance minister. TotalEnergies SE and APA Corp. earlier this month announced a $10.5 billion offshore project that will begin pumping crude as soon as 2028. Minister of Finance and Planning of
