🛢️ TotalEnergies' Final Investment Decision looms

while Suriname focuses on moving past the violent protests

De Brief
March 06, 2023

TotalEnergies SE plans to make an investment decision in the middle of 2023

Patrick Pouyanné, CEO TotalEnergies speaking during a shareholders conference

This decision will lead to a new delay in the final investment decision (FID) on investing in the Surinamese oil sector. During the earnings meeting of Total, CEO Patrick Pouyanne spoke on the confirmation of a potential project which yielded good results.
Suriname has been described as a complex project as there have been varying results, confusion in understanding the reservoirs discovered, and a discrepancy in seismic data and the oil wells.
However, the company saw positive results after drilling and conducting flow tests in an appraisal well. The flow test results and pressure build-up indicated resources of around 200 million barrels of oil.
The results, however, shine a light on the boon and curse that oil can be for a society. While oil investment can allow necessary booming in the economy, there are also environmental consequences that can emerge as a result. And an over-reliance on oil has been known to cause societal issues in various countries worldwide and in the region with Trinidad & Tobago and Venezuela.

Suriname and Guyana plan future bridge connecting countries

The Ministers of Public Affairs from Suriname and Guyana recently met regarding the Corantijnbridge over the Corantijn River and report that the preparation of the construction is going smoothly.
The bridge is estimated to cost around US$300 million and estimates state that around 20 to 30 years of toll collection will be required to pay the costs of the bridge. Five companies have expressed interest in construction and have met the requirements.
It has been decided that the companies will be invited to present their final proposals to the ministry. Companies will have to present how they will finance, design, build, and maintain the bridge, and will as the chosen company will have to indicate how they will receive more financing.
The evaluation will take around 6 weeks which will lead up to a joint decision between Suriname and Guyana.

Pakkitow is free and will stay fighting

Stephano ‘Pakkitow’ Biervliet was freed from Santoboma prison and was welcomed by family, friends, and the media. Biervliet continued to state that as long as the oil prices, necessary resources, and grocery store prices continue to remain high, he will continue to oppose the government.
Upon his release, he stated that he will spend time with his family and questioned the integrity of the military.
Pakkitow has stuck to his guns and his story that he was approached by armed men who threatened to shoot his truck driver and co-driver. He stated then when threatened, he’ll do what he has to do.
Furthermore, he sent strength to the entrepreneurs that suffered as a result of the February 17 riots. As an activist, Pakkitow stated that he always wanted to organise a peaceful protest and that looting and theft is never part of his plan.
He states that protest is a way to signal what is happening in the country and that it is directed towards the President and Vice-President.

Training Exercises by American and Dutch militaries together with the Surinamese military

In geopolitical news, around 280 Dutch soldiers will land in Suriname to take part in a Jungle Warfare course. Alongside the Dutch soldiers, a number of American soldiers will also take part in the course which is designed to allow the training and certification for military performance in jungle scenarios.
The military training is the result of mutual meetings between Suriname and the Netherlands on collaboration in the Defense sector.
In this manner, the Netherlands will assist in the support of the development and training of the Surinamese military framework and the National Military and Coast Guard.