Suriname's Economic Affairs Minister to Share Vision Built on Offshore Oil at Caribbean Energy Week (CEW) 2026

Suriname's Minister of Economic Affairs, Entrepreneurship and Technological Innovation, Andrew Baasaron, will join Caribbean Energy Week (CEW) 2026 as a key speaker, where he is expected to offer insights into the country's long-term strategy amid one of the most significant energy transitions in its history. The inaugural event takes place from March 30 to April 1 in Paramaribo under the theme, "Leveraging Energy Diversity Across the Caribbean," and will position Suriname's emerging offshore sector as a pillar of regional growth.

Minister Baasaron is expected to provide a detailed look at Suriname's plans for responsibly managing its upcoming oil revenues and translating resource wealth into wider economic development.

Central to this vision is the $10 billion GranMorgu development in offshore Block 58 – operated by TotalEnergies and APA Corporation – which represents the largest industrial investment in Suriname's history. Targeting first oil in 2028, the project is designed to produce 220,000 barrels per day from an estimated 750 million barrels of recoverable reserves.

Suriname's development model emphasizes environmental responsibility, including plans for an all-electric, zero-routine-flaring FPSO for GranMorgu.

This approach aligns with the government's Multi-Annual Development Plan 2022–2026, which seeks to broaden economic growth across the agriculture, services and technology sectors. Efforts underway include strengthening the business environment, establishing a Local Content Development Office and launching a new SME fund.

Technological innovation is also at the forefront of the government's strategy.

Suriname is advancing spatial AI and extended-reality applications in both industry and education. A UNIDO-supported loan collateral facility launched in October aims to expand financial access for indigenous farmers, while fiscal stability measures include a proposed sovereign savings and stabilization fund and a Staatsolie bond issuance in March 2025, which raised over $515 million to help finance the company's 20% participation in the GranMorgu project.

Regionally, Suriname continues to deepen cooperation with neighboring states, including agreements with Guyana and Trinidad and Tobago on shared electricity infrastructure, natural gas development and renewable energy initiatives – among them Staatsolie's 45 MWp solar program.

CEW 2026 will offer investors and industry leaders direct access to Surinamese stakeholders and a front-row seat to one of the Caribbean's most dynamic emerging energy markets.

"Minister Baasaron's insights on Suriname's economic diversification and investment climate will be invaluable to delegates at CEW 2026. His participation reinforces the event's role as the definitive platform for connecting global capital with the precise opportunities driving the Caribbean's energy future," said Sandra Jeque, International Conference Director at Energy Capital & Power.