Suriname will begin producing oil in 2025 from one of the five offshore discoveries made over the past 12 months, incoming chief executive of national oil company Staatsolie Annand Jagesar said.
Oil from all five discoveries of "large reservoirs of oil and gas off the coast will be delivered by 2027," he said.
Jagesar, an economist who currently serves as the company's deputy director for business development, by March will replace Rudolf Elias who has managed the firm since 2015.
Oil production "will take a while because it is a mega operation to set up business," he said. "We are very motivated and are doing our best to make it in 2025."
Jagesar will oversee continuing exploration in the South American country where France's Total and US independent Apache announced their fourth oil discovery on 14 January.
The find at the Keskesi East-1 well in Block 58 is the fifth offshore Suriname since January 2020. ExxonMobil and partner Malaysian state-owned Petronas made a discovery on block 52 in December.
Apache's previous finds at the Maka Central, Sapakara West and Kwaskwasi have also been on block 58, which is adjacent to Guyana's 120,000 b/d Stabroek block operated by ExxonMobil. Block 58 is owned 50:50 by Total and Apache, and the French firm took over from Apache as operator on 1 January 2021.
In a tender launched last year, Staatsolie is offering eight shallow-water blocks that cover 13,524km2 between onshore fields and block 58. Bids are due on 30 April.
Staatsolie operates the onshore Tambaredjo field that produces around 16,500 b/d of oil. The crude is processed by Staatsolie's 15,000 b/d Tout Lui Faut refinery to produces gasoline, diesel, bitumen and fuel oil.
