Staatsolie Maatschappij Suriname N.V., State Oil Company of Suriname, was founded on 13 December 1980. Staatsolie is involved in all aspects of exploration, production, refining and marketing of crude oil and refined products. Since 2006, we own and operate a 14 megawatt power plant. This power plant is Staatsolie’s first step towards becoming an integrated energy company. Staatsolie also made its first steps onto the path of developing renewable energy sources, such as biofuel and hydropower. Staatsolie makes a significant contribution to the Surinamese economy and society. Human resource development is a vital aspect of our business, for we firmly believe that people are key to our success. As agent for the State, we promote third party participation in hydrocarbon exploration and production offshore as well as onshore, and monitor petroleum agreements on behalf of the State.

Staatsolie’s petroleum operations began onshore in the District of Saramacca, 45 kilometers west of the capital, Paramaribo. The company’s crude production in 2009 totaled 5.9 million barrels, with an average daily production of 16,000 barrels of oil. The producers are the Tambaredjo field since 1982 and, since 2006, the neighboring Calcutta field.
Staatsolie’s exploration strategy is driven by its goal of finding 64 million barrels of proven reserves not later than the end of 2012 in order to sustain onshore crude production at a minimum of 16,000 barrels of oil per day. For the current strategic planning period 2008-2012 the focus for onshore exploration is to carry out exploration activities in the coastal area.