No commitment on gas monetization projects between Guyana and Suriname - Jagdeo

No commitment on gas monetization projects between Guyana and Suriname – Jagdeo

Oct 27, 2024 News

Vice President, Bharrat Jagdeo. (No commitment on gas monetization projects between Guyana and Suriname)

Kaieteur News – The Governments of Guyana and Suriname have not committed to any project related to the development of gas, Vice President Bharrat Jagdeo announced on Thursday.

Jagdeo was speaking at his weekly press conference held at Freedom House, Robb Street, Georgetown.

Notwithstanding, the Vice President said that the two countries will be exploring working on a gas project in the future.

Kaieteur News asked Jagdeo to inform the nation about statements made by Annand Jagesar, CEO of Suriname’s state firm Staatsolie, identifying reservoirs that will be part of the development offshore between the two countries to monetize gas.

“This is a discussion I had that I reported on with Todd, myself and Vickram Bharrat and some of the technical officers of the ministry with Minister Ramdin and some of his people. So, they shared a lot of information with us, about all the gas fields, about all their finds right across the entire coast of Suriname and also Haimara and Pluma. So, they identified all these targets,” Jagdeo said.

Further, the Vice President explained that Suriname shared information relative to the estimated gas believed to be in each field during a recent visit to Guyana.

“We explained to them the process in which we are now engaged in which is the tri-partied discussion between Fulcrum, the Government of Guyana and Exxon. We indicated that there may be a possibility… to collaborate or maybe in the future should this not succeed that we may be able to do a project involving just Haimara and Pluma with the Suriname fields,” the VP disclosed.

Jagdeo reiterated that though discussions were had, no commitment was made. He said that representatives from the Governments of Guyana and Suriname will remain in contact with the aim of exchanging information.

Ultimately, Suriname will be a partner and “if they have gas there and we build the infrastructure on our side, and they don’t, then their gas fields could be stranded, but they may be able to connect to our processing facilities, and supply their gas, which will monetize their gas for them. So, we want to keep them in the loop but at this stage, no specific project has been discussed with Suriname,” Jagdeo assured.

On October 24, Kaieteur News reported that Guyana and Suriname are discussing the joint development of natural gas resources off the coasts of the neighbouring South American countries, according to the CEO of Staatsolie.

“It will not happen tomorrow, but it is important that we now have mutual confirmation that we want to work together. It may take years before we find a development concept,” Jagesar told Suriname-based outlet de Ware Tijd.

According to a report by OilPrice.com, Jagesar said Guyana and Suriname will cooperate in drafting a development concept for some offshore reservoirs. These he said could include the Makka and Kwaskwasi discoveries in Suriname, close to the border with Guyana, and the Haimara and Pluma discoveries in Guyana, which are also close to the border with Suriname.

Guyana and Suriname have been the focus of oil and gas exploration in recent years, with billions of barrels of oil found in the countries’ offshore sediment basin. Last week Vice President, Bharrat Jagdeo told a news conference that the two countries have committed to sharing information on the oil and gas sector with each other. He said that the commitment between the two countries was made during a recent visit by Suriname’s Foreign Minister Albert Ramdin, other government officials and representatives of Staatsolie.

Additionally, the two countries are working to set up a committee to specifically handle information sharing but, in the meantime, it will be handled by the Suriname’s Ministry of Foreign Affairs and Guyana’s Ministry of Natural Resources.

“Earlier this week, I also met with Minister Ramdin from Suriname… the Foreign Minister, and he brought a number of people from Staatsolie and from the government who deals with this sector. So, we talked extensively about the coordination of our efforts, collaboration in the sector and we committed to sharing more information on the Oil and Gas industry among ourselves,” Jagdeo had stated.

(No commitment on gas monetization projects between Guyana and Suriname)

Discover more from Kaieteur News

Subscribe to get the latest posts sent to your email.

Commitment, gas development, Guyana, Jagdeo, Suriname

Latest News