Laurent Vincenti
The GranMorgu project is expected to begin production around mid-2028, with an output of approximately 220 thousand barrels per day, according to Patrick Pouyanne, the company’s CEO. The project will also include involvement from the local state corporation, Staatsolie, holding a 20% share.
The reserves in the offshore field next to ExxonMobil's project in Guyana's waters are roughly over 750 million barrels.
Staatsolie intends to release bonds in 2025 in order to fund its involvement in the project. The company has secured funding for an initial $175 million payment.
The economy of the country with a population of 640 thousand people, where 18% live below the poverty line, can be significantly supported by the development of the oil field and substantial investments, according to AP. The total amount owed by Suriname to creditors is $3.5 billion.
source: apnews.com
The reserves in the offshore field next to ExxonMobil's project in Guyana's waters are roughly over 750 million barrels.
Staatsolie intends to release bonds in 2025 in order to fund its involvement in the project. The company has secured funding for an initial $175 million payment.
The economy of the country with a population of 640 thousand people, where 18% live below the poverty line, can be significantly supported by the development of the oil field and substantial investments, according to AP. The total amount owed by Suriname to creditors is $3.5 billion.
source: apnews.com
