Cash grant for every Surinamese
Taking its cue from Guyana, which is earning nearly $7 million daily from offshore oil production, the government in neighboring Suriname says it will give every citizen living in the country a cash grant of US$750.00 each from future oil revenues.
Announcing the package at the 49th independence anniversary celebrations on Monday, President Chan Santokhi clarified that the government will pay the money from royalties and other revenues after actual oil production begins in 2028.
Total Energies of France, which is the lead player in the offshore production effort, had earlier this year made the crucial final investment decision to go ahead with preparations for production in 2028 as well as to continue exploration activities in an offshore area adjoining Guyana's prolific Stabroek Block now producing more than 650,000 barrels of oil daily.
Production began in Guyana in late 2019. Commercial discoveries were first announced in mid-2015.
"Today, I announce the finan...