At a Glance: The strategic roadmap of Suriname’s Staatsolie

Suriname national oil company Staatsolie’s 2022-27 investment program involves an estimated US$1.5bn, the bulk of which will be for offshore development.

That is according to an updated strategic roadmap from the NOC which will also allocate funds to sustainable energy projects.

To support the planned spend, the company looks to refinance its corporate credit facility, tap the local, regional and international financial markets, and explore commercial opportunities with international partners.

Staatsolie’s strategic goals include developing offshore capacity to act as an effective partner and eventually becoming an operator; de-risking and promotion of all open offshore acreage; the monetization of natural gas; boosting hydropower capacity; and developing renewable energy opportunities.

Actions on the oil and gas front include working toward a development decision for block 58 and participating in shallow water blocks 5 and 8; engaging up-, mid- and downstream gas operators to further study gas development and offtake scenarios; and helping the government identify large gas offtake, such as in the bauxite and petrochemical sectors.

Oil output of 6Mb/y in Suriname comes from Staatsolie-operated onshore fields Calcutta, Tambaredjo and Tambaredjo North West.

The crude is transported via pipeline to the NOC’s 15,000b/d Tout Lui Faut refinery which last year produced 2.98Mb of gasoline and diesel.

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SUSTAINABLE ENERGY PUSH

“As the world transitions to a cleaner energy future, Staatsolie looks to play its part by developing sustainable energy alternatives and improving the efficiency of our existing operations,” the state company highlights.

Suriname depends on Staatsolie Power (SPCS) for more than three-quarters of its electricity supply.

One initiative targets the overhaul of SPCS’s 189MW Afobaka hydro dam by replacing outdated turbines with more efficient alternatives which could increase production by 10%.

Another development envisions the installation of a utility scale solar power plant, making use of Afobaka’s reservoir for energy storage.

BNamericas recently reported the award of a contract to carry out feasibility studies for a floating photovoltaic array at the hydroelectric dam.

The use of waste heat to generate electricity at SPCS’s 96MW thermal plant is also in the pipeline.

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