suriname

Showing: 1 - 2 of 2 Articles

Sign up for the Guyana, South America Weekly Newsletter Absolutely Free!

Guyana, South America Homepage

Guyana’s “Somewhat Legal” Backtrack Crossing

If we say that a backtrack crossing is “legal,” we find ourselves in a conflict of expressions. After all, a backtrack route to another country is a route that seeks to bypass immigration authorities and the necessary legal procedures for cross border travel. However, Guyana is one of those countries where these kinds of somewhat weird and unexplainable things happen. Guyana does have a “somewhat legal” backtrack route to neighboring Suriname.

Suriname Estimated to Have Over 30 Billion Barrels of Unexplored Oil Reserves

Currently, just 40% of Suriname’s offshore oil blocks have been licensed, some 32 million acres, leaving over 60% untouched and ripe with potential. Staatsolie’s Vice President of Offshore, Glenn Corrie, said that by the end of 2022, the 60% of unexplored offshore acreage will be up for grabs, and Suriname is looking to get good fiscal terms for the development of its oil and gas resources.