Staatsolie is a vertically integrated state-owned company. We are a commercial entity, and pursuant to our bylaws we also have an institutional function. Commercially, we are involved in exploration, drilling, production, refining, marketing, sales including service stations, transport of crude and refined products, and generation of electricity. Also, Staatsolie has a participation interest in two goldmines in Suriname operated by international gold companies.
In our institutional function (Staatsolie Hydrocarbon Institute) we act on behalf of the State in assessing Suriname’s offshore hydrocarbon potential, attracting qualified international oil companies, negotiating petroleum contracts; and monitoring the execution of these contracts.