The next steps in a new energy alliance between Brazil, Guyana, and Suriname are expected this week, with the heads of state for each nation meeting in Guyana on Friday to discuss a series of potential new energy projects. 

As part of the alliance, an energy corridor to connect the nations’ significant oil and gas reserves has been proposed, with potential infrastructure projects along the corridor worth around $800m. Funding for these schemes is anticipated to come from government concessions and private investment. 

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Among the projects under consideration are a 1,500km road between Brazil’s Northern Roraima state and a potential deepwater port in Guyana, and a 1.2km bridge across a Guyana-Suriname river.  

A formal accord on the Arco Norte project – a 3,000MW power connection between Guyana, French Guyana, Suriname, and Brazil – is also expected to be signed this week. The project features a natural gas pipeline that is intended to service several projects along the corridor. 

The region has recently risen to prominence as an area of great offshore potential, with discoveries over the last few years attracting the attention of supermajors.  

Guyana has seen some of the most significant offshore discoveries in recent years, with 10 billion barrels of oil and gas confirmed since 2019. The nation has previously voiced its ambition to become one of the top oil producers in South America over the next four years, with a 220km subsea pipeline announced in October last year, transporting about 50 million standard cubic feet per day from the ExxonMobil-operated Liza Phase 1 and 2 projects. 

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Suriname has also been a site of offshore discoveries, with four discoveries made in 2020 showing “promise to become an oil production hot spot in the near to mid-term”. 

Brazil is currently the largest oil producer in South America, as well as the global ninth largest oil producer, playing host to the largest recoverable ultra-deep oil reserves in the world.