Suriname Emerges as the Caribbean’s Next Oil & Gas Powerhouse

 

Suriname is emerging as a rising star in the global energy scene and has the potential to make a significant impact with its vast oil and gas reserves. A string of major offshore oil discoveries has positioned the Caribbean nation as one of the most promising new frontiers in the hemisphere, with recoverable resources estimated at 2.4 billion barrels of oil equivalent (boe) and natural gas resources around 12.5 trillion cubic feet. At least 10 wells are expected to be drilled offshore between 2025 and 2027 in Suriname’s portion of the Guyana-Suriname Basin, underscoring the rapid pace of exploration and development. With first production on the horizon, Suriname’s transformation from exploration success story to regional energy powerhouse is well underway. As the country prepares to host the inaugural Caribbean Energy Week on March 30-April 1, 2026, Suriname is set to showcase not only its vast hydrocarbon potential but its growing ambitions to shape the region’s energy future. 

Offshore Breakthroughs

Suriname’s recent oil discoveries are concentrated offshore, in deep Atlantic waters bordering Guyana’s prolific Stabroek Block. In just a few years, the country has rapidly established itself as a promising exploration frontier. The centerpiece of this momentum is Block 58, operated by TotalEnergies alongside APA Corporation. Following a string of discoveries between January 2020 and February 2022 – including Maka Central, Sapakara South and Krabdagu – the partners announced the GranMorgu development, a project expected to deliver first oil in 2028. 

GranMorgu marks a turning point for Suriname. With estimated recoverable reserves of around 750 million barrels and a planned production capacity of 220,000 barrels per day, it represents the largest industrial investment in the country’s history, backed by more than $10 billion in capital. Beyond its scale, GranMorgu also reflects a new era of responsible production: zero routine flaring, reinjection of associated gas and an all-electric FPSO designed to minimize emission, which could serve as a model for lower-carbon development in a traditionally high-emission industry. 

Momentum Beyond Block 58 

Just to the north, Block 52, operated by Petronas, has yielded a series of discoveries – including Sloanea, Roystonea and Fusaea – confirming that Suriname’s offshore plays extend far beyond a single block. These wells have encountered oil-bearing reservoirs with strong flow potential, and evaluations are underway to determine commercial viability and tie-back opportunities to existing infrastructure. The area is estimated to hold more than 500 million boe.  

Meanwhile, in Block 53, momentum is accelerating. TotalEnergies recently acquired a 25% stake alongside APA and Petronas, signaling its long-term commitment to the basin. The Baja-1 discovery in this block sits adjacent to GranMorgu, offering the potential to extend the project’s production plateau and create efficiencies across neighboring fields. The alignment of these three blocks – 58, 52 and 53 – positions Suriname to develop a cohesive, scalable oil province with the potential to transform the country’s economic landscape. 

A New Energy Chapter 

These discoveries – their technical promise, commercial outlook and regional implications – will take center stage at Caribbean Energy Week (CEW) 2026, a landmark event set to bring together policymakers, investors and industry leaders from across the region. Hosted in Paramaribo, the forum will underscore the regional significance of Suriname’s energy story and its growing role in shaping the Caribbean’s energy future. 

As global demand for responsibly produced oil endures, Suriname’s combination of scale, strategic partnerships and ESG-focused development has drawn inevitable comparisons to Guyana’s meteoric rise. Yet its trajectory is uniquely its own – guided by a smaller population, a measured approach and a clear vision for inclusive, sustainable growth. 

If GranMorgu comes online as planned in 2028, Suriname could soon produce more than 200,000 barrels per day, positioning it among the largest oil producers in the Caribbean. Coupled with continued exploration success and growing regional cooperation, Suriname’s energy story is only beginning, and CEW 2026 will serve as the platform where that story takes shape on a regional stage. 

Join us in shaping the future of Caribbean energy. To participate in this exciting event contact sales@energycapitalpower.com. 

Distributed by APO Group on behalf of Energy Capital&Power.