Staatsolie Maatschappij Suriname NV

In the district Nickerie traces of oil have been found in the late twenties, but it is only forty years later, before oil is really found. Suriname is not in a favorable position to develop the oil sector, but in the 1970s the oil potential in Suriname is interesting for multinationals due to the oil crisis. When exploration drilling does not deliver the expected result, Staatsolie does not hesitate to develop the oil industry itself.

Our slogan 'Confidence in our own abilities has everything to do with the fact that Suriname decided to develop the oil industry by itself. With the establishment of Staatsolie on 13 December 1980, Suriname took the first big step in that direction. Initially, as a state vehicle Staatsolie was established to execute the oil policy. That policy stipulates that foreign oil companies can only explore for and eventually produce oil through service contracts with Staatsolie. In order to gain the necessary knowledge and experience, our first CEO Eddyie Jharap decided to exploit the oil discoveries in Saramacca. From that point on Staatsolie searches for and produces oil independently and also acts as an agent of the state.