Page 11 - LatAmOil Week 29 2022

LatAmOil SURINAME LatAmOil

Some of the most promising discoveries have been made near the maritime border (Image: Envoi/Staatsolie)
The two neighbours have a strong incentive to projects, though he noted that some of the most
work together to maximise the return on their prospective areas offshore Suriname were near
natural resource endowments, especially with the Guyanese border. Additionally, he pointed
respect to making gas available for local con- out that Suriname would be able to follow the
sumption and perhaps regional and foreign legal precedents established by other oil and
markets as well, he said. gas-producing countries with adjoining off-
“Large resources and associated and non-as- shore sectors, such as the US and Mexico in the
sociated gas have been discovered, and both Gulf of Mexico.
countries could benefit from jointly develop- Meanwhile, the Staatsolie chief is not the only
ing resources in the future into the domes- proponent of cross-border co-operation on this
tic, regional and international markets,” he front.
remarked. OilNOW.gy quoted Harvey Bijnaar, the
Guyana and Suriname began discussions last CEO and founder of the One Basin Three
year on the development of a common gas strat- Nations (OBTN) organisation, as saying that he
egy for the two countries. They have also talked believed the oil play discovered offshore Guyana
about establishing joint gas and electricity sup- extended into Suriname’s offshore zone without
ply networks linking Guyanese and Surinamese any interruptions. Since both countries are sig-
customers with their counterparts in northern natories to the UN Convention on the Law of
Brazil. the Sea (UNCLOS), he said, they have a frame-
Jagesar did not say whether Staatsolie had work for setting up mechanisms for joint devel-
drawn up proposals for any specific cross-border opment. ™

BRAZIL
Brazil’s independent producers gain more

interest from hedge funds, other investors

BRAZIL’S independent oil and gas producers amidst disputes with the government.
are gaining attention from hedge funds and Petrobras’ board of directors recently elected
other investors eager to cash in on the coun- Caio Mário Paes de Andrade as the company’s
try’s rising production but nervous about the new CEO. Paes de Andrade is, as Bloomberg
national oil company (NOC) Petrobras, which noted late last week, the fourth person to hold
has endured repeated management reshuffles this position at the NOC since early 2019.

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