AGP Executive Report

Offshore Energy Watch: Petronas says it has added two new discoveries and a successful appraisal in Suriname’s Block 52, bringing its Suriname tally to eight successful wells and recoverable resources above 1 billion barrels of oil equivalent, with Caiman-1 (oil-bearing), SAC-1 (gas-bearing) and Roystonea-2 (oil reservoir extent) all reporting strong drill stem test results. Project Execution: Tenaris has started operations at a new Paramaribo service center built to support TotalEnergies’ GranMorgu offshore project, supplying casing and tubing and adding logistics, inspection capacity and order-tracking tools for offshore installation. Maritime & Trade: Suriname’s drift gillnet fishery has been cleared again to export seafood to the United States after NOAA Fisheries updated its comparability finding, following Suriname’s mitigation steps including shorter net lengths and mandatory pingers. Cross-Border Infrastructure: Tensions over the Corentyne River Bridge continue as Guyana says it has received no official communication from Suriname about a unilateral plan to finance and run the project, while Suriname’s side has floated toll and new financing models. Regional Business Context: The week also saw renewed focus on regional trade and integration as Mercosur leaders met in Paraguay, with discussions expected to cover deeper trade ties and external agreements involving Guyana and Suriname.

Corentyne Bridge Standoff: Suriname says it will scrap the joint venture with Guyana and finance the Corentyne (Corantijn) River Bridge entirely on its own, with possible toll models—while Guyana’s President Irfaan Ali says he has received no formal notice and insists the project must remain joint. Offshore Energy Push: Petronas reports two new hydrocarbon discoveries plus a successful appraisal in Block 52, bringing its Suriname total to eight successful wells and recoverable resources above 1 billion barrels of oil equivalent. GranMorgu Project Builds Momentum: Tenaris has started operations at a new Paramaribo service center to support TotalEnergies’ GranMorgu offshore development, and Saipem has begun on-the-ground operations for the project after the Normand Navigator arrived at Jules Sedney Harbour. Regional Finance Partnership: The IsDB and IDB reaffirmed plans to deepen cooperation, including a shared ambition to mobilize at least US$1 billion in co-financing for projects in Guyana and Suriname over five years. Health Data Drive: Suriname launched training for field workers for its first STEPS noncommunicable disease risk survey since 2013, with nationwide data collection planned over three months.

Offshore Oil Momentum: Petronas says it has added two new hydrocarbon discoveries plus a successful appraisal in Suriname’s Block 52, bringing total successful finds to eight and recoverable resources to over 1 billion barrels of oil equivalent; Block 52 is operated by Petronas (80%) with Paradise Oil/ Staatsolie holding 20%. GranMorgu Build-Out: Tenaris has started operations at a new Paramaribo service center to support TotalEnergies’ GranMorgu offshore project, supplying casing and tubing and adding logistics, inspection and order-management systems. GranMorgu Logistics & Installation: Saipem has begun GranMorgu operations after the Normand Navigator arrived in Paramaribo, with a major port logistics hub set to handle incoming SURF equipment ahead of mid-2028 first oil. Corentyne Bridge Rift: Suriname has scrapped the joint Corentyne River bridge plan with Guyana and says it will finance and manage the bridge itself, a move Guyana’s President called “news to me,” with new tendering likely depending on financing. Regional Trade Push: Mercosur leaders, including Lula, are meeting in Paraguay to deepen integration and advance new trade talks that include Guyana, Suriname and Trinidad and Tobago. Development Finance Link: The IsDB and IDB reaffirmed plans to co-finance projects, targeting at least US$1 billion for Guyana and Suriname over five years.

Offshore Oil & Gas Momentum: Tenaris has started operations at a new Suriname service center in Paramaribo to support TotalEnergies’ GranMorgu deepwater project, strengthening local supply of casing, tubing and related services. Block 52 Breakthroughs: Petronas confirmed two new discoveries and an appraisal success in Block 52, with Caiman-1 and SAC-1 finding oil- and gas-bearing reservoirs and Roystonea-2 extending oil productivity; the results lift cumulative recoverable resources to over 1 billion boe. GranMorgu Build-Out: Saipem has begun installation work for GranMorgu after the arrival of the Normand Navigator, with first oil still targeted for mid-2028. Energy Diplomacy & Trade: Mercosur leaders gathered in Paraguay for the 68th summit, with plans to deepen regional integration and advance talks that include Guyana, Suriname and Trinidad & Tobago. Corantijn Bridge Dispute: President Irfaan Ali said he was unaware of Suriname’s plan to finance the Corentyne River bridge alone and potentially charge tolls, after Guyana questioned the move away from a joint venture. Health Survey Funding: Suriname launched training for field workers for its first STEPS non-communicable disease risk survey since 2013, supported by PAHO/WHO and the IDB.

Suriname Oil & Gas Momentum: Petronas is expected to make a Final Investment Decision this year for offshore Block 52, after reporting eight discoveries totaling over 1 billion barrels of oil equivalent, with a fresh gas find also announced at SEOGS 2026—signals that Suriname’s shift from exploration to production could accelerate. Deepwater Project Execution: Saipem has started offshore works for TotalEnergies’ GranMorgu project, using the Normand Navigator and a SURF installation campaign aimed at first oil in mid-2028, while TotalEnergies also says it plans a new multi-well exploration push in 2027 (Block 58). Regional Energy Diplomacy: Canada and CARICOM renewed their strategic partnership with an action plan focused on competitive economies, climate action, and regional security, while Guyana and Jamaica moved to set up an energy working group alongside cooperation in security, tourism, agriculture and finance. Health Data for Policy: Suriname launched training for field workers for its first STEPS non-communicable disease risk survey since 2013, with nationwide data collection planned over three months. Business & Trade Friction: Guyanese private sector groups called for a boycott of Surinamese events after maps at SEOGS 2026 depicted the New River Triangle as Surinamese territory, escalating sovereignty tensions that could spill into cross-border business relations.

Suriname Energy Push: Saipem has started offshore operations for TotalEnergies’ GranMorgu project, with the Normand Navigator vessel arriving in Paramaribo to begin the SURF installation campaign; first oil remains targeted for mid-2028. Petronas Block 52 Update: Suriname’s President says Petronas has made another gas discovery in offshore Block 52 (Swartzia Aspasia Complex-1), adding to the case for multiple future developments. Next Drilling Plans: TotalEnergies expects a multi-well exploration campaign in 2027, including four new exploration wells in Block 58, while Staatsolie says there is still room to find more oil and could link any new finds back to GranMorgu. Health & Data for Policy: Suriname launched training for field workers for its first STEPS non-communicable disease risk survey since 2013, with nationwide data collection planned over three months. Regional Finance Cooperation: The IsDB and IDB reaffirmed plans to deepen cooperation, including a shared ambition to mobilize at least US$1 billion in co-financing for projects in Guyana and Suriname over five years. Cross-Border Energy Diplomacy: Canada and CARICOM renewed their strategic partnership with a new action plan focused on resilient economies, climate action, and regional security. Trade & Security Context: A Canada-CARICOM foreign ministers meeting in Panama City also highlighted transnational crime, irregular migration, and Haiti as key security concerns. Migration Pressure on the Region: Cubans are increasingly seeking refuge in Brazil via routes linked to Suriname and French Guiana, with authorities investigating suspected smuggling and money-laundering networks.

Suriname’s Offshore Oil Push: Saipem has started operations for the GranMorgu deepwater project offshore Suriname, with the Normand Navigator arriving in Paramaribo as the SURF installation campaign begins; first oil is still targeted for mid-2028. Exploration Momentum: TotalEnergies says it expects a new multi-well exploration campaign in Suriname next year, including four wells in Block 58, while Staatsolie says there’s “plenty of room” to find more oil and could link any new reserves back to GranMorgu. New Gas Find: Petronas told Suriname’s leadership it has made another gas discovery in Block 52 (Swartzia Aspasia Complex-1), adding to a portfolio of finds that could support multiple future developments. Regional Finance Cooperation: The IsDB and IDB reaffirmed their strategic partnership, including a shared aim to mobilize at least US$1 billion in co-financing for projects in Guyana and Suriname over five years. Diplomacy & Trade Agenda: Canada and CARICOM renewed their foreign ministers’ partnership with a results-focused action plan spanning competitive economies, climate action, and regional security. Business Tensions at SEOGS: Guyanese business groups are calling for a boycott of future Suriname events after a map at SEOGS 2026 allegedly depicted Guyana’s New River Triangle as Surinamese territory.

Suriname Offshore Oil Push: Petronas says it has made another gas discovery in offshore Block 52, with President Jennifer Geerlings-Simons confirming the Swartzia Aspasia Complex-1 (SAC-1) find at the SEOGS 2026 summit, calling it “good news” that could underpin multiple developments. Exploration Expansion: TotalEnergies’ vice president for the Americas says a new multi-well drilling campaign is planned for 2027 in Suriname, including four exploration wells in Block 58, where GranMorgu is expected to start producing in 2028. Project Execution Update: Saipem has started operations for Suriname’s GranMorgu SURF campaign, with the Normand Navigator arriving to begin installation work ahead of mid-2028 first oil. Regional Finance & Cooperation: The Islamic Development Bank and the Inter-American Development Bank reaffirmed a partnership MoU, targeting at least US$1bn in co-financing for projects in Guyana and Suriname over five years. Energy Business Links: Trinidad and Tobago’s energy chamber and Suriname’s energy chamber signed an MoU to boost private-sector participation and local content in the southern Caribbean energy supply chain. Trade & Diplomacy: Canada and CARICOM renewed their strategic partnership with a results-focused action plan spanning competitive economies, climate action, and regional security. Water Access Data: A global map highlights that safe drinking water remains out of reach for billions, underscoring the development gap relevant to Suriname’s broader investment priorities.

Suriname Offshore Energy Push: Saipem has started operations for TotalEnergies’ GranMorgu SURF work offshore Suriname, with the Normand Navigator moored at Jules Sedney Harbour and preliminary activities set to begin; first oil remains targeted for 2028. Petronas Block 52 Update: Suriname’s President says Petronas has made another gas discovery at offshore Block 52 (Swartzia Aspasia Complex-1), with eight discoveries in the block totaling over 1 billion barrels of oil equivalent and a Final Investment Decision expected this year. Next Drilling Plans: TotalEnergies says it expects a new multi-well exploration campaign in Suriname next year, including four wells in Block 58, while Staatsolie says there’s still room for more oil and possible tie-backs to GranMorgu. Regional Business Diplomacy: Curaçao used SEOGS to position itself as a maritime and logistics partner for the Suriname-Guyana basin energy boom, while Trinidad and Tobago and Suriname energy chambers signed an MoU to deepen private-sector supply-chain links. Cross-Border Tensions: Guyanese business groups are calling for a boycott after maps at SEOGS allegedly depicted Guyana’s New River Triangle as Surinamese territory, urging respect for sovereignty. Canada-CARICOM Foreign Policy: Canada and CARICOM renewed their strategic partnership, agreeing a new action plan focused on competitive economies, climate action, and regional security.

Offshore Oil Momentum: Saipem has started operations for Suriname’s first major deepwater project, GranMorgu, after the Normand Navigator vessel arrived at Jules Sedney Harbour; the SURF installation work supports first oil targeted for mid-2028. Gas Discovery Boost: President Jennifer Simons says Petronas has made another gas discovery at offshore Block 52 (SAC-1), with eight discoveries in the block totaling over 1 billion barrels of oil equivalent; Petronas is expected to make a Final Investment Decision later this year. More Exploration Ahead: TotalEnergies says it plans a multi-well exploration campaign in Suriname next year, including four new wells in Block 58, where GranMorgu is located, with Staatsolie saying there’s still room to find more oil. Regional Energy Cooperation: Trinidad and Tobago’s energy chamber and Suriname’s energy chamber signed an MoU to deepen private-sector participation and local content across the supply chain. Media & Governance: The IACHR launched the Rickey Singh Initiative for Excellence in Journalism in the Americas, aiming to strengthen credible, independent reporting across the region. CARICOM-Canada Security & Climate Plan: Foreign ministers renewed the Canada-CARICOM partnership with a results-focused action plan covering resilient economies, climate action, and regional security.

Offshore Oil Momentum: Petronas says it has made another gas discovery at Suriname’s offshore Block 52, bringing eight discoveries to more than 1 billion barrels of oil equivalent, while President Jennifer Simons links the finds to multiple future developments and a stronger outlook for the economy. GranMorgu Build-Out: Saipem has started offshore operations for TotalEnergies’ GranMorgu project (Block 58), with the Normand Navigator mobilised at Jules Sedney Harbour; first production remains targeted for 2028. New Drilling Plans: TotalEnergies expects to begin a multi-well exploration campaign in 2027/next year, including four new exploration wells in Block 58, as Staatsolie says there’s still room to look for oil and partners could decide on follow-on development. Regional Energy Cooperation: Guyana and Jamaica will set up an energy working group after signing MoUs, while CARICOM leaders at a CDB forum urged faster, coordinated renewable energy action across the region. Business & Borders Row: Guyanese private sector groups are calling for a boycott of Suriname events after maps at SEOGS 2026 allegedly depicted Guyana’s New River Triangle as Surinamese territory, with multiple chambers urging respect for sovereignty. Entrepreneurship & Media: The Rickey Singh Initiative for Excellence in Journalism in the Americas was launched at the OAS, aiming to strengthen independent, credible reporting across the hemisphere.

Suriname Offshore Gas Boost: President Jennifer Simons says Petronas has made another gas discovery in offshore Block 52, with the block’s eight discoveries totaling over 1 billion barrels of oil equivalent, setting up “multiple oil and gas developments” as Suriname pushes toward offshore production. GranMorgu Offshore Execution: Saipem has officially started operations for the GranMorgu SURF package after the Normand Navigator moored at Jules Sedney Harbour; the TotalEnergies-led project (with APA and Staatsolie) is still aiming for first production in 2028. New Drilling Plans: TotalEnergies’ vice president says a multi-well exploration campaign is expected to begin next year at Block 58, with four new exploration wells to extend targets around GranMorgu. Regional Energy Cooperation: Curaçao’s Charles Cooper used SEOGS to position the island as a maritime and logistics partner for the offshore industry, while also discussing broader economic ties with Suriname. Business Tensions Over Maps: Guyana private-sector groups are calling for a boycott of SEOGS after a map allegedly depicted the New River Triangle as Surinamese territory, escalating a sovereignty dispute that’s now spilling into business forums.

Offshore Oil & Gas Momentum (Suriname): Petronas says it has made another gas discovery in offshore Block 52, with President Jennifer Simons calling it “good news” that supports multiple future developments; Petronas also expects a final investment decision later this year on commercially viable gas, while Suriname’s first offshore output remains on track for 2028. GranMorgu Execution: Saipem has started offshore operations for the GranMorgu project after the Normand Navigator arrived at Jules Sedney Harbour, kicking off SURF work for TotalEnergies (40%) with APA (40%) and Staatsolie (20%), targeting production in 2028. New Drilling Plan (Suriname): TotalEnergies’ exploration vice president says the company expects a multi-well campaign next year, including four exploration wells at Block 58, with Staatsolie saying there’s “plenty of room” to search and that results could feed into GranMorgu or a secondary field. Energy Diplomacy & Trade: Trinidad and Tobago and Suriname energy chambers signed an MoU at SEOGS 2026 to boost private-sector participation and local content. Regional Friction (Guyana–Suriname): Guyanese business groups are calling for a boycott after maps at SEOGS 2026 depicted the New River Triangle as Surinamese territory, with multiple chambers and youth entrepreneurs condemning the “misrepresentation” and urging respect for sovereignty. CARICOM Energy Transition Push: Caribbean leaders at the CDB annual meeting urged faster, coordinated renewable energy action, including bundling projects and scaling finance to build resilient grids. Mining Update (Suriname): Founders Metals reported new gold results at Antino in southeastern Suriname, including 53.1m at 1.21 g/t Au from surface in a newly tested area.

Offshore Oil Momentum: Saipem has started offshore operations for Suriname’s first large-scale development, GranMorgu, after the Normand Navigator arrived and moored at Jules Sedney Harbour; the SURF work supports TotalEnergies (40%), APA (40%) and Staatsolie (20%), with production targeted for 2028. New Gas Signals: President Jennifer Simons says Petronas made another gas discovery in offshore Block 52, adding to eight discoveries totaling over 1 billion barrels of oil equivalent; Petronas is expected to make a final investment decision later this year, with first gas production discussed for 2030. More Drilling Planned: TotalEnergies expects a new multi-well exploration campaign next year, including four exploration wells at Block 58, depending on rig availability, as Staatsolie says there’s still room to search and possibly tie new finds back into GranMorgu. Regional Business Friction: Guyanese business groups are calling for a boycott of Suriname events after a map at SEOGS 2026 allegedly depicted the New River Triangle as Surinamese territory, escalating a sovereignty dispute that’s now spilling into the private sector. Energy Cooperation: The Trinidad and Tobago and Suriname energy chambers signed an MoU to boost private-sector participation and local content across the supply chain. Mining Update: Founders Metals reported new gold results at Antino in southeastern Suriname, including 53.1m at 1.21 g/t Au from surface in a newly identified zone.

Offshore Gas Momentum: Suriname’s President Jennifer Simons says Petronas has made another gas discovery in offshore Block 52, adding to eight discoveries in the block that Petronas says total over 1 billion barrels of oil equivalent, with a final investment decision expected later this year for gas development. Offshore Oil Build-Out: Saipem has started offshore operations for the GranMorgu project after the Normand Navigator arrived at Jules Sedney Harbour, kicking off SURF work for TotalEnergies (40%) with APA (40%) and Staatsolie (20%); first production is still targeted for 2028. Exploration Push: TotalEnergies expects to begin a new multi-well drilling campaign next year, including four exploration wells in Block 58, to expand targets around the GranMorgu area. Regional Business Friction: Guyanese business groups are calling for a boycott of future Suriname events after a map at SEOGS 2026 allegedly depicted the New River Triangle as Surinamese territory, while Suriname’s summit continues to attract regional energy partners. Mining & Local Investment: Founders Metals reported new gold results at its Antino Gold Project in southeastern Suriname, including 53.1m at 1.21 g/t Au from surface in a newly tested area.

Offshore Oil Momentum: TotalEnergies’ GranMorgu offshore project is moving from plans to action, with Saipem starting offshore operations after the Normand Navigator arrived at Jules Sedney Harbour; production is still targeted for 2028, with TotalEnergies (40%), APA (40%) and Staatsolie (20%) backing Block 58. New Gas Signals: Malaysia’s Petronas says it has made another gas discovery at offshore Block 52, where eight discoveries total over 1 billion barrels of oil equivalent; Petronas is expected to make a final investment decision later this year for gas development, with first gas pencilled in for 2030. Regional Energy Cooperation: The Trinidad and Tobago and Suriname energy chambers signed an MoU at SEOGS 2026 to boost private-sector participation and local content across the supply chain. Sovereignty Row at SEOGS: Guyana-linked business groups (GCCI, PSC, GOGEC, GOGEC) condemned the use of a map depicting the New River Triangle as Suriname’s territory, raising fresh tensions around cross-border investment forums. Curaçao Eyes the Basin: Curaçao’s Charles Cooper used SEOGS to pitch Curaçao as a maritime and logistics partner for Suriname’s offshore build-out and to deepen economic ties.