If neighboring Suriname may not have completely taken Guyana’s international spotlight in the oil and gas industry because of its own significant discoveries, it has done an impressive job of capturing a significant proportion of global attention as an influential player in South America’s new position as the hemisphere’s most profitable hydrocarbon hunting ground.
Less than two weeks ago the Malaysian company Petronas Global announced that it had made its first offshore oil discovery Suriname where it is working in partnership with ExxonMobil, the US company which, due to its ongoing major discoveries on the Guyana sea, is now established. a huge oil and gas ‘bridgehead’ in South America.
The official announcement of Suriname’s most recent major oil discovery was made by Petronas Vice President responsible for Upstream Exploring, Emeliana Rice-Oxley, who said the recent discovery “will provide the drive for Petronas to continue exploring in Suriname , ”He described as one of the company’s” focus basins “in America. The discovery also represents more good news for ExxonMobil, which already has the largest operating interest in Guyana’s oil and gas resources, now shares a 50% stake in Suriname Block 52 operation inside Guyana-Suriname basin.
The announcement of Suriname’s latest oil discovery prompted a response from ExxonMobil’s Senior Vice President for Exploration and New Enterprises, Mike Cousins, who is quoted as saying that the recent Suriname discovery “extends ExxonMobil’s flagship position in South America, building on our successful investments in Guyana. ”
However, more significant for Guyana and Suriname is the fact that they now share important strategic links in terms of their common interest in maximizing their huge oil and gas reserves. Coincidentally, the circumstance raises the possibility that a longstanding and sometimes hostile territorial dispute between the two countries could be subsumed under their joint efforts to build their modest economies, though it must be said that there is no absolute guarantees here.
Back in October, with both countries having a solid knowledge of their significant oil and gas reserves, Georgetown and Paramaribo agreed to launch a Strategic Dialogue and Collaboration Platform aimed at strengthening ties between the two neighboring countries. But it wasn’t all. Within a few weeks of being elected to office, the presidents of both countries visited each other’s capitals.
With major oil discoveries and significant international coverage under their belts, both governments have wasted no time in immersing themselves in what could be the most significant bilateral discourses ever, and previous commitments have been characterized by a generous measure of bigotry arising from the Suriname dispute. claims to Corentyne River.
Ironically this time, talks between the two presidents, Irfaan Ali of Guyana and Chandrikapersad Santokhi of Suriname saw the Corentyne River emerge as a bridge builder. The discussions between the two focused, among other things, on a bridge across the Corentyne River that will connect the two countries. So even if, historically, territorial disputes between countries are not known to disappear easily, the gatekeepers seem to be promising that the dispute in this case could become part of an over-occupation with the bigger picture, build anchored bridges to exploit their new oil and gas resources to find two of the smallest economies in South America.