Latest update December 12th, 2024 1:00 AM
‘With good management of oil, Guyana and Suriname can jumpstart economies’
– Suriname Pres. tells global investment forum
Kaieteur News – Surinamese President Chandrikapersad “Chan” Santokhi acknowledging that Guyana and Suriname are blessed with billions of proven oil and gas resources said that with good management both countries will be able to jumpstart their economies to new level of development.
The Surinamese leader was at the time addressing the Inaugural Session of Global Investors Summit 2023, which is being held in Madhya Pradesh, India.
President of Suriname, Chandrikapersad “Chan” Santokhi
“The Diaspora community must be involved in taking our economies to a new level of social responsibility and sustainable development of our societies in the future,” Santokhi said adding that “I am delighted that the Caribbean region is represented at this event by both Guyana and Suriname. Our presence here only underlines our commitment to strengthening the synergies between our countries and region to forge partnership and build long-term cooperation.”
Santokhi explained that Suriname stands on the cusp of promising development in the oil and gas industry.
Guyana and Suriname are neighbouring countries in South America. Both countries are now in the limelight owed to the billions of proven barrels of oil discovered in their basins.
While Suriname has a more favourable contract and will be better able to benefit from its natural resources – Guyana has signed onto a lopsided Production Sharing Agreement (PSA) with American oil giant, ExxonMobil. The People’s Progressive Party (PPP) Government is adamant that it will not renegotiate the Exxon deal.
For his part, President of Guyana, Irfaan Ali, told the gathering that Guyana is ready to exploit its oil and gas resources “as fast as possible.”
In fact, President Ali said, “Our policy is very simple, we must exploit this resource as fast as possible in ensuring that the revenues that come will build an economy that is strong, resilient and sustainable and standing on many other pillars in a world 2030 and beyond.”
- Guyana and Suriname, jumpstart economies, President Ali, South America, Surinamese President Chandrikapersad “Chan” Santokhi
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