AGP Executive Report
Last update: 6 hours agoOffshore Oil Build-Up: Italian contractor Saipem has started offshore operations for Suriname’s GranMorgu project after the Normand Navigator arrived and moored at Jules Sedney Harbour in Paramaribo; the Block 58 development is Suriname’s first large-scale offshore oil push, operated by TotalEnergies (40%) with APA (40%) and Staatsolie (20%), targeting first production in 2028 and using S-Lay/J-Lay vessels plus a 30,000–40,000m² logistics hub for subsea equipment. New Gas Signal for Block 52: President Jennifer Simons says Petronas has made another gas discovery in offshore Block 52, bringing eight discoveries to more than 1 billion barrels of oil equivalent; Petronas is expected to make a final investment decision later this year on commercially viable gas, with Suriname’s first offshore production still on track for 2028 under a TotalEnergies-led consortium. Energy Cost Pressure: A regional look at the Caribbean’s energy dependence highlights how diesel prices have surged since the Iran war, with diesel acting as a key stress gauge for freight, agriculture, manufacturing and construction. Regional Energy Diplomacy: Prime Minister Andrew Holness is set to visit Suriname for the Suriname Energy, Oil & Gas Summit (June 23–26) and then Guyana, while Curaçao is pitching cooperation with Suriname on offshore regulation, maritime safety and environmental protection. Mining & Metals in Suriname: Founders Metals reports a new gold discovery west of Upper Antino in southeastern Suriname, adding fresh drilling targets as exploration continues.
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