A delegation from the African Energy Chamber (AEC), led by Executive Chairman NJ Ayuk, participated in the Suriname Awareness Symposium 2025 today, marking a significant step towards fostering collaboration in the energy sector.
The event, hosted by Colibri Business Development, Sheriff Consultancy, and Alite D’Fam Consultancy under the patronage of Suriname’s Ministry of Foreign Affairs, International Business, and International Cooperation, brought together local stakeholders and global partners to explore the myriad opportunities within Suriname’s energy value chain.
NJ Ayuk, in his address, highlighted the critical role of Suriname’s oil and gas potential in fostering sustainable development.
“Climate change and energy poverty are interconnected issues.
“Energy poverty is a human rights challenge, and achieving the United Nations’ Sustainable Development Goals is impossible without addressing it.”
NJ Ayuk, Executive Chairman of the African Energy Chamber
Ayuk urged Suriname to harness its oil and gas resources while simultaneously diversifying with renewable energy sources to achieve industrialization and energy security.
Ayuk cautioned against repeating the mistakes of Africa, where abundant resources coexist with widespread energy poverty.
“With oil and gas, Suriname will be able to power its fire plants and industrialize with fertilizers when the sun is not shining or the wind is not blowing, avoiding reliance on foreign aid.”
NJ Ayuk, Executive Chairman of the African Energy Chamber
He emphasized that Suriname has every right to develop its oil resources to improve the lives of its citizens.
The AEC Executive Chairman commended Suriname’s unique position as a carbon sink, with extensive aerial forestry, and praised the government for incentivizing TotalEnergies’ production of 230,000 barrels of oil.
According to Ayuk, this decision is crucial for resource development and enables the country to generate revenue to fund future exploration efforts.
He criticized the notion of larger oil-producing nations discouraging Suriname from utilizing its modest production capacity in the name of climate change, asserting that both Suriname and Africa must maximize their hydrocarbon resources to support development and economic growth.
Ayuk also encouraged TotalEnergies, which has already committed $1.5 billion to local content development, to increase its investments further.
He expressed gratitude to President Santokhi for fostering a conducive environment that has attracted significant oil and gas investments. Additionally, he called for greater female participation in the energy sector, emphasizing the need for a fair and inclusive energy transition.
Balancing Oil, Gas, and Renewable Energy
In his opening remarks, President Chandrikapersad Santokhi emphasized the symposium’s importance as a platform for meaningful dialogue and collaboration among various stakeholders.
“We must ensure what is discussed turns to real-life solutions on how we can ensure transparency, accountability, and management of energy resources, how oil and gas revenue is invested in education, and how we can balance economic growth with environmental sustainability.”
President Chandrikapersad Santokhi
His comments underscored the government’s development strategy, which is centered on four key pillars: collaboration, economic diversification, a transformative mindset, and dialogue.
President Santokhi articulated Suriname’s commitment to energy diversification, highlighting the need to balance oil, gas, and renewable energy sources.
He stressed the importance of integrating investments from both the private and public sectors, as well as international partners, to achieve this balance.
“Out of the energy transition lies the empowerment of the Suriname people. Sustainability must be anchored in our development strategy.”
President Chandrikapersad Santokhi
Albert R. Ramdin, Minister of Foreign Affairs, International Business, and International Cooperation, echoed the President’s sentiments, emphasizing that energy affordability is directly linked to national prosperity.
He stated, “Diversifying the energy mix is essential to ensure cost-effective energy solutions and drive industrialization.” Ramdin’s remarks aligned with the overarching theme of the symposium, which seeks to attract investment and foster sustainable development in Suriname’s energy sector.
The symposium, taking place from January 27 to 28 under the theme “The Dawn of a New Era,” aims to attract investments across Suriname’s energy value chain. The country boasts an estimated 2.4 billion barrels of proven oil reserves and 12.5 trillion cubic feet of proven gas.
Recent policy reforms, including 10-year tax incentives for development partners, along with significant oil and gas discoveries between 2019 and 2022, have drawn major global interest.
Energy giant TotalEnergies announced a $10.5 billion Final Investment Decision for the GranMorgu project in Block 58 in October 2024.
Additionally, ExxonMobil and Malaysia’s Petronas signed a letter of agreement with the government for Block 52, while QatarEnergy partnered with Chevron to acquire a stake in Block 5 and maintains interests in Blocks 64 and 65.
Shell is also actively operating in the country, further solidifying Suriname’s position as a burgeoning player in the global energy landscape.
As the symposium progresses, the focus remains on leveraging Suriname’s energy resources to drive sustainable development while ensuring that the benefits are equitably shared among its citizens. The collaborative efforts highlighted during this event could pave the way for a new era of energy.
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