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Company Facts

Official name:   Staatsolie Maatschappij Suriname N.V.
Established on:   13 December 1980
Shareholder:   The Republic of Suriname
Executive Directors:  

R.T. Elias - Acting Managing Director
A.K. Moensi-Sokowikromo - Finance Director

B.W. Dwarkasing – Director Exploration & Production

Deputy Director:  

A.K. Jagesar – Deputy Director Business Development

Employees:   1051 (as of June 2015)
Commercial Activities:   Exploration, drilling, production, refining, marketing, sales, transport of crude and refined products, generation of electricity
Institutional Activities:   Assessment of hydrocarbon potential, promotion, contracting and monitoring activities of other oil companies on behalf of the State
Oil fields:   Tambaredjo, Calcutta and Tambaredjo North-West
Name of the crude:   Saramacca Crude (low in sulfur and metal contents)
Crude production:   17,000 barrels of oil per day
Staatsolie Refinery:   Processing capacity of 15,000 barrels crude per day
Refinery products:   Currently diesel, fuel oil and asphalt bitumen. By the fourth quarter of 2015 premium diesel and gasoline will be added to the production line
Markets:   Suriname and the Caribbean
Consolidated key performances indicators

2013 2014
Consolidated gross turnover USD 1,023 million USD 1,056 million
Consolidated Profit before tax USD 432 million USD 400 million
ROE 33% 26%
Investments USD 294 million USD 131 million
Net selling prices refined products USD 98.97 per barrel USD 85.34 per barrel
Annual Crude production 5.98 million barrels 6.13 million barrels

Download the Company Profile here  (pdf - 268kb)

Republic of Suriname

The Republic of Suriname, with its capital city Paramaribo, is located just north of the Amazon delta on the northeast coast of South America. It is bordered in the north by the Atlantic Ocean, in the west by Guyana, in the east by French Guiana, and in the south by Brazil. For the most part, Suriname is covered by tropical rain forest and is thinly inhabited. The population is a rich ethnic blend of approximately 500,000 inhabitants. Although the official language is Dutch, English is widely understood and spoken. Suriname is a parliamentary democracy and has an elected President heading the Government.

The country's rich mining history as one of the major bauxite and alumina producers in the world spans approximately 90 years, with the Alcoa and BHPBilliton as operators.

The sedimentary basin, including the offshore economic zone, covers approximately 155,000 square kilometers/38,000,000 acres. The systematic search for petroleum began in the early sixties, but petroleum development took a leap after 1980 with the set up of Staatsolie, and production sharing service contract models were introduced for the participation of private oil companies in petroleum activities.

Download the Suriname Undiscovered Opportunities here  (pdf - 417kb)


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