Staatsolie Maatschappij Suriname


Staatsolie Maatschappij Suriname is a Surinamese oil and gold company which was established to execute the oil policy which includes exploration, drilling and processing oil. In 2014 Staatsolie expanded its business to gold. Staatsolie is wholly State-owned.

Staatsolie Maatschappij Suriname
State-owned enterprise
IndustryOil, Oil products and Gold
Founded13 December 1980 [1]
HeadquartersParamaribo, Suriname
Key people
R.T. Elias (CEO) and A.K. Moensi-Sokowikromo (CFO)
ProductsOil, Gold
RevenueUS$500 million (2019) [2]
US$180 million (2019) [2]
OwnerState of Suriname
Number of employees
1,114 (2019-01-01) [3]
Websitestaatsolie.com

History

In 1965 oil was discovered in Calcutta, Saramacca. On 13 December 1980, Staatsolie was established to manage Suriname's own oil industry instead of selling the oil fields to multi-nationals cooperations. On 25 November 1982, first drilling started in Tambaredjo. In 1988 the first crude oil was exported to Trinidad and Tobago. On February 1995 Staatsolie build a refinery. [4]

In 2014 it was announched that Staatsolie would participate for 25% in a recently discovered gold field in the Merian area. [5] In 2019 the production was 524,000 ounches of gold, resulting in an annual revenue of US$ 101 million. [2]

On 27 April 2019, Staatsolie and Rosebel gold mine have come to an agreement for new mines. Staatsolie will participate for 30% in a joint venture with Rosebel.[6]

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References
  1. "Staatsolie – Refining the future". Endeavour Magazine. Retrieved 18 April 2020.
  2. "Bruto-omzet Staatsolie US$ 500 miljoen in 2019". Suriname Herald (in Dutch). Retrieved 18 April 2020.
  3. "Company Profile" (PDF). staatsolie.com. Retrieved 18 April 2020.
  4. "Back Matter". International Monetary Fund. Retrieved 18 April 2020.
  5. "Abdoel: Deelname Staatsolie in goudmijn 'meesterlijk plan'". Star Nieuws (in Dutch). Retrieved 18 April 2020.
  6. "Staatsolie en Rosebel Goldmines bezegelen deal nieuwe mijngebieden". De Ware Tijd (in Dutch). Retrieved 27 April 2019.
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