Caribbean Energy Week will spotlight shallow-water drilling opportunities as regional exploration activity increases.
Shallow-water oil and gas prospects across the Caribbean are attracting renewed interest as exploration expands beyond deepwater discoveries in the Guyana–Suriname Basin.
The topic will take centre stage at Caribbean Energy Week (CEW) 2026, which will host a technical workshop titled “Operational Challenges in Shallow Water Drilling.”
While deepwater discoveries have driven the region’s recent oil boom, governments and operators are increasingly exploring lower-cost shallow-water opportunities in Guyana, Suriname and Trinidad & Tobago.
Guyana Expands Exploration
Guyana’s offshore development has been dominated by the Stabroek Block, but authorities are now encouraging exploration in adjacent shallow-water areas.
Following its recent licensing round, the government awarded several shallow-water blocks under a standardized production-sharing framework designed to attract a broader range of investors.
One example is the S7 block, awarded to Cybele Energy, covering around 200 square kilometres offshore.
Geological studies suggest Guyana’s shallow-water areas contain around 90 exploration leads across 11 blocks, representing an estimated 90 billion barrels of oil in place.
Suriname Builds Momentum
Neighbouring Suriname is also seeing increased offshore activity.
In late 2025, Chevron and Petronas secured exploration rights for Blocks 9 and 10, alongside QatarEnergy and state-owned Paradise Oil Company.
Chevron also drilled the Korikori-1 exploration well in Block 5 in water depths of roughly 40 metres, demonstrating continued interest in the basin’s shallow prospects.
These efforts complement major deepwater developments such as the $10.5 billion GranMorgu project, led by TotalEnergies, which is moving toward production later this decade.
Redevelopment Opportunities in Trinidad
In Trinidad & Tobago, shallow-water activity is focused largely on redevelopment of mature offshore basins.
The country’s long history of offshore production has created an extensive network of pipelines and infrastructure, enabling operators to tie smaller discoveries into existing facilities quickly and cost-effectively.
Addressing Technical Challenges
Despite their potential, shallow-water projects face operational challenges, including complex geology, environmental considerations and aging infrastructure.
These issues will be examined during the CEW 2026 workshop, where engineers, operators and service providers will discuss strategies to improve drilling performance and reduce operational risk.
As exploration expands across the basin, shallow-water developments could represent the Caribbean’s next wave of upstream investment opportunities.
