Majors are eying Suriname as the next big oil player. With recent success in neighbouring Guyana, Suriname offers hope for low-cost oil exploration and production going into 2021. Exxon Mobil, Royal Dutch Shell, Total, Apache are all showing interest in the South American state, hoping Suriname will provide oil for as little as $30 to $40 a barrel thanks to lower production costs. This is well below the average US production cost of almost $50 per barrel.
After years of political unrest, Suriname is eager to make a name for itself in the oil world and encourage economic stability and growth. The hard-hit economy has been further hampered by the Covid-19 pandemic, with the new government looking at the country’s oil potential to drag them out of economic disaster.
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Oil Majors Are Eyeing A Suriname Offshore Boom | OilPrice.com
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