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Staatsolie Maatschappij Suriname N.V.

Company Detail

Description

Suriname's state oil company Staatsolie Maatschappij Suriname N.V. (Staatsolie) is engaged in the exploration, production, refining and trading of crude oil and derivatives, including fuel oils, gasoline (95 RON) and automotive diesel. It also operates in the electricity generation market, and provides bunkering and transportation services by tanker trucks and barges to local ports. The firm is active in the Caribbean nations of Trinidad and Tobago, Guyana and Barbados. Staatsolie owns three wholly-owned subsidiaries and is the major shareholder in another unit. In addition, it has a minority interest of 25% in Suriname Gold Project LLC. In 2015, the NOC reported completion of a drilling program in the Coesewijne area with oil shows at one of four test wells in the area south of producing fields Calcutta and Tambaredjo. Meanwhile, its subsidiary Paradise Oil plans to drill nine exploration wells on near shore block 4 with the aim of striking at least 25Mb recoverable oil. Staatsolie was founded in 1980 and is based in Paramaribo, Suriname.

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