Zoë Deceuninck

The offshore oil industry in #Suriname is going to be huge. Journalists must understand what's coming. They need to be able to predict what's needed. It's how we keep governments accountable. Because the money is gonna flow - but growth and development are not the same thing.

Off X, on to @bluesky. Follow me on @zoedec.bsky.social — Bluesky

Note: in a previous tweet (now deleted) I made mention of 2.1 million dollars in stead of 1.2 billion. The correct amount Staatsolie has to come up with is 1.2 billion US dollars. Apologies for the mistake. #Suriname #oil

Staatsolie has till the summer of 2025 to come up with 1.2 billion dollars in order to participate 20 percent in the oil development offshore. 175 million US is already secured. Soon, Staatsolie will issue a new round of bonds to raise the rest of the money. #Suriname #oil

@patricepawi Small but significant

@ZoDeceuninck Small typo there

"Olievoorraden symboliseren hoop en een nieuw begin voor #Suriname", zegt President @CSantokhi vandaag tijdens zijn jaarrede in het parlement, net nadat @TotalEnergies haar finaal investeringsbesluit heeft bekendgemaakt. "We mogen deze nieuwe kans niet verkwanselen."

Expected income from the new oil field offshore #Suriname is "as big as the GDP of Suriname". "We will have to have good governance or we will be penniless", warns Jagesar, CEO of Staatsolie, starting with "no political interference in the governance of the national oil company."

Annand Jagesar, CEO of Staatsolie, the national oil company of #Suriname, speaks of "a great moment". "@TotalEnergies protected their interest, and so did we", Jagesar said. Here he is pictured with Pouyanné (R) of @Totalenergies during the press conference today in Paramaribo.

#Suriname's financial outlook is looking much better as of today, as @TotalEnergies' decision to invest $10.5 billion in a new oil project will be included in the IMF's economic framework, which concludes its Suriname program early next year.

"More energy, less emmissions and more cash." That's how Patrick Pouyanné, CEO of @TotalEnergies summarises the decision to invest 10.5 billion dollars in a new oil field offshore #Suriname.

President @CSantokhi promises that #Suriname will not lose it's carbon negatieve status with this decision to develop a huge oil field 185 kilometers offshore Suriname.

32 wells will be drilled in the next 4 years in Block 58 offshore #Suriname. First oil is expected in 2028. @TotalEnergies

The oil field is called Gran Morgu (New Tomorrow). "It's a present, but also the future of @TotalEnergies in #Suriname", says Pouyanné while handing over a summary of the Final Investment Decision to president #Santokhi.

@TotalEnergies is going to invest 10.5 billion US in a new oil field offshore #Suriname . This was announced today by president Patrick Pouyanné.

In enkele minuten maakt @TotalEnergies op het kabinet van de president het finale investeringsbesluit bekend voor de ontwikkeling van twee oliebronnen voor de kust van #Suriname

“Bankers are doing what they've always done. It's easier to manage one big loan for a pipeline than several for a lot of solar farms”, says Lenton. “In the long run there's more money to be made with renewables.”

Finance in renewables is scarce, says Tim Lenton, Professor of Climate Change & Earth System Science at @UniofExeter. “It's a problem with bankers, not economy. Economics show that renewable energy is the better business proposition, but financing a new oil project is easier.”

#Suriname slaat de plank mis, reageert de hoogleraar op mijn vragen. "Er ligt een gouden kans voor het grijpen in hernieuwbare energiebronnen, omdat die nu al de goedkoopste energiebron ter wereld zijn."

"Voor een land dat anno 2024 olie ontdekt en denkt dat dat een kans is voor de toekomst: dat is het niet", zegt Tim Lenton, hoogleraar klimaatverandering op de @ClimateWeekNYC. "Het is geen goede strategie om er zelfs maar te denken." #Suriname

Reporting has a magical balance of learning & teaching. "It puts you out talking to people, soaking in the complexity of the world. Then it puts you in this more solitary, creative process: figuring out the best way to share what you’ve learned." reutersinstitute.politics.ox.ac.uk/news/new-york-…