French and US companies to invest $10 billion to extract oil off Suriname's coast

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PARAMARIBO Nouvelles

Suriname,South American Country,Totalenergies

PARAMARIBO, Suriname (AP) — France’s TotalEnergies and U.S. hydrocarbon company APA Corp. plan to invest $10 billion to extract oil off the coast of Suriname...

PARAMARIBO, Suriname — France’s TotalEnergies and U.S. hydrocarbon company APA Corp. plan to invest $10 billion to extract oil off the coast of Suriname in a historic investment for the South American country, officials announced Tuesday.

“Today is a historic day for Suriname,” said a jubilant President Chan Santokhi, calling it “a day that will determine our future.” Santokhi said the anticipated revenue from the project would be used to raise the standard of living in Suriname, a country of more than 640,000 people with a poverty rate of 18%, according to the Inter-American Development Bank.Suriname holds $3.5 billion in debt and is undergoing a three-year, $688 IMF restructuring program that led to austerity measures and

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