Annand JAGESAR

CEO

STAATSOLIE

There is a major opportunity for Suriname to benefit economically in the world’s final decades of oil and gas use.
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Staatsolie In Figures

Company's oil production:17,000 bopd

Years the company has produced oil onshore:40

API gravity of onshore crude:15.8

Company's share of Suriname's power generation:75%

Staatsolie

Staatsolie

Staatsolie Maatschappij Suriname was established in 1980 to ensure a strong national role in the country’s energy developments. The company engages in oil and gas exploration and production, as well as the refining, marketing, transportation and sale of oil products and the production of electricity. It has produced heavy crude onshore for 40 years.

Mandate: Suriname follows the Malaysian model, in which a State firm acts as both national energy company and regulator, covering the responsibilities typically held by an energy ministry. Thus, Staatsolie’s mandate involves regulation and promotion of Suriname’s oil developments, as well as its own production.

Oil production: Staatsolie has produced heavy crude oil onshore in the district of Saramacca for 40 years. Its production chiefly takes place at the Tambaredjo, Calcutta and Tambaredjo-Northwest fields.

Refining: The company’s crude output is carried via a 55-kilometre pipeline to the 15,000-bpd Tout Lui Faut refinery, where it is processed into bitumen, premium diesel, premium petrol and fuel oil. Refined products are sold in both Suriname and Caribbean markets.

Power generation: Staatsolie is responsible for around 75% of Suriname’s power generation. The company operates a 96-MW thermal power plant through subsidiary Staatsolie Power Company Suriname. Part of its generated electricity and all of its process steam is used to power the Tout Lui Faut refinery. Since January 2020, the company has also operated the 180-MW Afobaka Dam.

Gold: The company holds a 25% stake in the Merian gold mine, which has been producing since 2016.

Strategy:

  • Find new international JV partners and keep as much acreage as possible under contract
  • Use coming oil revenues to fund Suriname’s energy transition
  • Ensure that while developing its oil and gas resources, the country remains carbon-negative

Staatsolie Articles and Interviews

Trinidad’s shifting demand for oilfield equipment TEY_post_Marc-SITARAM
Interview
Trinidad and Tobago - May 20, 2024

Marc Sitaram of Bandera Oil Tools talks about the company’s strategic approach to oilfield equipment supply in Trinidad and…

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Suriname opens oil and gas bid round
NEWS
Suriname - November 09, 2023

Suriname has launched an oil and gas bid round for 11 offshore concessions, the country’s state-owned energy company announced on Tuesday.

The bid round will run…

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Suriname: a rising star in oil and gas
Articles
Suriname - November 02, 2023

Suriname’s oil and gas sector is taking off at a dynamic time for the global energy industry, with a worldwide energy transition and wars in Ukraine and the Middle…

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A strategy for Trinidad-Suriname logistics Dawayne-BELCON
Interview
Trinidad and Tobago - April 17, 2023

Dawayne Belcon, CEO of D.S. Belcon Limited, talks to The Energy Year about the role Trinidad and Tobago will continue to play for the regional energy industry and the…

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