Our Business

Our Business

The customer's need encourages us to deliver high-quality products. Confidence in our own ability remains the motive that leads to growth in the quality of and diversity in these products.

Upstream

With competence our staff processes our Saramacca crude oil into fuel oil, diesel, gasoline and bitumen in our refinery. In everything we do we focus on customer demand and the delivery of great quality. 

Our business is to find and produce oil. In our effort to constantly improve our services, we redefined our exploration strategy for the onshore, nearshore and shallow offshore acreage in a joint effort across directorates. We also continue to seek JV partners to accelerate exploration activities, and share expertise and risk.

We produce Saramacca Crude from our oilfields in the Saramacca District, specifically in: Tambaredjo, Calcutta and Tambaredjo-Northwest. With innovative technologies, we maximize the oil production with the purpose to provide the required quantities of crude to our stakeholders. The crude is transported to the refinery at Tout Lui Faut via a 55 km pipeline.

Downstream

In the past 10 years we spent a lot of effort, time and money in the development of Downstream activities. 

The Saramacca Crude is refined at our refinery at Tout Lui Faut in the District of Wanica. The refinery has a processing capacity op 15.000 barrels per day and produces different grades of fuel oil, premium diesel, premium gasoline and bitumen. Most of the refined products are sold locally, while the surplus is exported to the Caribbean.

Since 2006, through its subsidiary Staatsolie Power Company Suriname N.V. (SPCS), Staatsolie owns and operates a thermal power plant with a production capacity of 96 megawatts. This plant generates electricity and process steam. Part of the electricity and all steam is supplied to the Staatsolie refinery. The other part of the electricity is supplied to the n

GOw2 Energy Company Suriname N.V. is our subsidiary through which we serve the retail market. GOw2 was created after the acquisition of the Chevron/Texaco retail operations in Suriname in 2011. Our high-end refinery products ultra-low sulfur diesel and gasoline are mainly retailed by GOw2, a now established household name in Suriname. 

Products & services

Local businesses in the manufacturing, agriculture, fisheries, and power generation industry can rely on us to provide premium gasoline, premium diesel, fuel oil and electricity. 

We are proud that our premium gasoline, which has an exceptionally low sulfur content, meets current European standards. The high product quality is achieved through the application of the latest technologies patented by renowned companies in the field of motor fuel production.

The specification of the gasoline product (95 RON) is as follows:

Staatsolie Gasoline (95 RON)   Test method ASTM:
RON 95 min D2699
MON 85 min D2700
Density at 15 °C 720-775 kg/m³ D1298
Aromatics 45 wt% max D5580
Benzene 1.0 max vol% D3606
Olefins 18 max vol% D6293
RVP 0.62 bar @ 37.8 °C D4953
Sulfur content 10 ppm wt max D2622
Lead 0 g/l D5050
10 vol% evaporated 70 °C max D86
50 vol% evaporated 77-121 °C D86
90 vol% evaporated 190 °C max D86
Copper strip corrosion No. 1 max D130
Silver strip corrosion 1 max D4814
Solvent washed gum content 5 mg/100ml max D381
Oxidation stability 240 minutes min D525
Oxygen content N/A    

Delivering high quality is also our priority for diesel. With the introduction of our own premium diesel and gasoline, Suriname became eighty percent independent of fuel imports. Thanks to its own production of diesel and gasoline, Suriname saves more than US $ 100 million in fuel imports annually.

The specification of the Automotive Diesel product is as follows:

Staatsolie Premieum Diesel (Euro IV)
  Test method ASTM:
Density at 15 °C 820-845 kg/m³ D1298
Viscosity at 40 °C 2.0 - 4.5 cSt D445
Flash point 55 °C min D93
Cloud point -15 °C max D2500
Sulfur content 10 ppm wt max D1552
Water content 200 ppm wt max D2709
Cetane Number 51.0 min D613
ASTM D86 95% 360 °C max D86
Polycyclic aromatics 11 wt% max D6591

We produce Saramacca Crude from our oilfields in the Saramacca District, specifically in: Tambaredjo, Calcutta and Tambaredjo-Northwest. With innovative technologies, we maximize the oil production with the purpose to provide the required quantities of crude to our stakeholders. The crude is transported to the refinery at Tout Lui Faut via a 55 km pipeline for further processing.

The specification of the Saramacca crude is as follows:

Specifications
API Gravity    15.8
Viscosity at 50°C (cSt)    480
Sulphur (weight percentage)    0.65
Concentration Carbons (weight percentage)   7.1
Sodium (ppm)   23
Vanadium (ppm)   10
Asphaltenes (weight percentage)    1

In order for major industries in Suriname, Guyana, Antigua and Barbados to produce heat, steam or generate electricity, we provide them with various grades of low-sulphur and low-vanadium fuel oils. These oils are used in engines, boilers and for other industrial applications. The fuel oils are delivered to several countries in the Caribbean where they are used for their specific purpose due to their  satisfactory lubricity and special characteristics. 

Staatsolie Bitumen complies with all international specifications and standards. We can deliver bitumen with a penetration of 40 to 150. The bitumen is suitable for use on roads, airports, bridges, parking lots, etc. Bitumen produced by Staatsolie has been used in all major paving projects in Suriname. 

The specifications can be found as follows: 

Specifications
API Gravity 8.8
Penetration at 25°C * 63
Softening Point (°C)  47.2

* Penetration grades up to 150 are available on request

For our regional stakeholders, we provide bunker services. Local deliveries are made by tanker trucks or river barges. We make C.I.F. deliveries to our Caribbean customers with oil tankers varying from 6,000 to 12,000 DWT.

We can deliver several grades of high quality, low-vanadium and low-sulphur bunker fuels like Marine Gasoil, IFO 120, IFO 180, Bunker C, and No.6 Fuel Oil. These bunker fuels are some of the best available in the Caribbean. We can deliver bunkers to all vessels visiting Suriname's major ports. Deliveries of bunkers are made by tanker trucks, river barge or via Staatsolie's jetty at Tout Lui Faut.