Suriname has unveiled a new strategic framework to accelerate national economic development through the exploitation of its offshore oil reserves. The initiative was announced by President Jennifer Geerlings-Simons during the country’s independence jubilee, as the state targets daily production of 220,000 barrels starting in 2028.
Objective: increase national revenue
Currently limited to daily production of 5,000 to 6,000 barrels, the former Dutch colony plans to capitalise on recent offshore discoveries to transform its economy. The development of a new deepwater oil block is expected to mark a financial turning point for the country, where a significant portion of the population lives below the poverty line.
According to official statements, revenues from this activity are expected to start flowing into state coffers from 2028. The project is part of a broader effort to mobilise public investment to strengthen national infrastructure and support economic diversification.
A roadmap based on national consensus
The president, in office since July, stated that development of the oil sector will be built around political consensus. “We must begin this roadmap. We may have differences on how things should be done, but at least we must be able to imagine a future together,” she declared in a public speech.
This development plan comes in a diplomatic context marked by strengthened relations between Suriname and the Netherlands. Dutch Prime Minister Dick Schoof attended the celebrations and welcomed the symbolic significance of the jubilee for both nations.
Royal visit and regional cooperation
King Willem-Alexander and Queen Maxima are scheduled to visit Suriname from 1 to 3 December, continuing a diplomatic sequence initiated in 2023 with royal apologies for past colonial abuses. The celebrations brought together several foreign delegations, including the 9th French Marine Infantry Regiment, American troops and the Dutch army band.
Suriname’s oil projects align with a broader regional trend similar to that of Guyana, reinforcing the strategic interest of the South American offshore basin in the coming years.
