IBP and Member Companies Meet with the President of Suriname and the CEO of Staatsolie to Discuss Opportunities in the Energy Sector
IBP President Roberto Ardenghy and executives from member companies met on Thursday and Friday (May 28–29) in Brasília with Jennifer Simons, President of Suriname, and Annand Jagesar, CEO of Staatsolie, the country’s state-owned oil company. The discussions focused on the outlook for Suriname’s energy sector and partnership opportunities with the Brazilian industry across the entire value chain.
Suriname has established itself as an emerging player in the global energy market. The country holds approximately 4.4 billion barrels of oil equivalent in remaining resources, and investments in exploration and development increased from USD 614 million in 2021 to USD 2.8 billion in 2025, reflecting the rapid advancement of its offshore exploration frontier.
The flagship project is Gran Morgu, Suriname’s first major deepwater offshore development, operated by TotalEnergies in partnership with APA Corporation. With two fields and combined estimated resources of approximately 700 million barrels of oil equivalent, the project highlights the potential of the country’s new exploration frontier.
Industry activity remains strong, with approximately ten wells planned between 2025 and 2027. To sustain this expansion, investments estimated at USD 11 billion will be required between 2026 and 2028, creating opportunities throughout the entire value chain.
In addition to oil, Suriname possesses vast natural gas reserves, estimated at 15.88 billion barrels of oil equivalent, with commercial production expected to begin in the next decade. Blocks such as Block 52, operated by Petronas, are positioned as gas-focused opportunities, with a potential of 500 million boe.
