BERNAMA – French energy and petroleum company TotalEnergies will invest USD10 billion in a project to extract oil off the coast of Suriname, officials announced on Tuesday, reported German news agency dpa.
From 2028, 220,000 barrels of oil will be produced daily 150 kilometres off the coast of the South American country, TotalEnergies and US partner APA said in a statement.
Suriname’s President Chandrikapersad Santokhi said it was a “historic and milestone” occasion.
“What seemed like a distant dream is becoming a reality. This will be the largest investment ever in our country,” he said.
“This important decision will boost our domestic capabilities and investments and have a major impact on local content opportunities.”
According to the French energy company, more than 6,000 jobs will be created in Suriname.
State-owned oil company Staatsolie, which is also taking part in the project, said it was a historic milestone in Suriname’s oil and gas industry.
“This project will yield significant income for Suriname and needs to lead to better living standards for every citizen of Suriname,” chief executive Annand Jagesar said.
