Staatsolie Maatschappij Suriname N.V. has achieved its production and financial targets for 2025. Offshore developments are progressing according to plan.
For 2025, Staatsolie anticipates total revenues of US$802 million, representing the consolidated performance of Staatsolie and its subsidiaries Staatsolie Power Company Suriname N.V. (SPCS) and GOw2. The expected pre-tax profit amounts to US$418 million. Oil production reached 6.35 million barrels, while the refinery produced approximately 3.1 million barrels of high-quality diesel and gasoline. SPCS supplied 1.37 million megawatt hours (MWh) of electricity, covering 69percent of the energy demand for Paramaribo and surrounding districts. Two noteworthy offshore achievements include the confirmation of commercial viability for the Sloanea-1 gas field in Block 52 and the launch of the Open-Door Offering. Development of the GranMorgu project in Block 58 is advancing and remains on schedule.
Production results
Saramacca Crude production met its goal with an estimated 6.35 million barrels, maintaining an average output of 17,400 barrels per day in 2025 due to improved techniques. , tThe Staatsolie refinery produced approximately 3.1 million barrels of high-quality diesel and gasoline, exceeding the target of 3 million barrels. The refinery marked a significant milestone in its 10-year history with the first commercial production of sulfuric acid and delivery to Suralco.
SPCS supplied 1.37 million MWh of electricity, meeting 69 percent of the demand for Paramaribo and nearby districts connected to the so-called EPAR grid, using a mix of thermal and hydroelectric power.
GOw2 continued its multi-year plan to modernize and expand its network of fuel stations, renovating two stations, and opening a new one in Saramacca during 2025. I
Financial Results
In 2025, revenue is projected at US$802 million, up from US$735 million in 2024. Pre-tax profit is estimated at US$418 million (US$430 million in 2024). Contributions to the state treasury amount to nearly US$387 million (US$384 million in 2024) through taxes, dividends, and royalties from Staatsolie’s participation in gold mining. This represents 32 percent of total government revenue for the year. Staatsolie’s contribution to Suriname’s Gross Domestic Product (GDP) in 2025 was about nine percent.
In 2025, Staatsolie focused on funding it’s twenty percent stake in the GranMorgu project. In March, the Staatsolie bond 2025–2033 was issued, raising US$516 million, US$321 million more than previous bonds. In May, a US$1.6 billion bank loan has been secured from eighteen banks and financial institutions. Combined with reserves and operating income, these funds provide a solid base for Staatsolie’s US$2.4 billion investment in GranMorgu. The successful bond issue and loan reflects strong national and international investor confidence.
Offshore
The GranMorgu project is progressing as planned, with overall progress at 25 percent, and the construction of the Floating Production Storage and Offloading (FPSO) ) halfway completed. Drilling of production and injection wells, as well as subsea infrastructure installation, is scheduled to begin in 2027, with first oil expected in 2028.
On November 11, Staatsolie approved the commercial development of the Sloanea-1 gas discovery in Block 52. This marks an important step in developing Suriname’s offshore gas reserves in collaboration with PETRONAS Suriname Exploration & Production B.V. Plans include gas wells, subsea infrastructure, and a floating LNG facility, a first in the region. The final investment decision is expected in 2026, with gas production projected to start in 2030.
On November 24, Staatsolie launched the Open-Door Offering, opening new offshore exploration opportunities. At the same time, the GeoAtlas of Suriname, a detailed geological reference, was published.
Exploration activities continue in various offshore blocks, with seismic surveys and drilling in progress. Several wells have been drilled, including Macaw-1 (Block 64, TotalEnergies), Caiman-1 (Block 52, PETRONAS), and Korikori-1 (Block 5, Chevron). Ongoing drilling includes Araku-deep (Block 65, Shell) and Roystonea-2 (Block 52). For 2026, SAC-1 and Kiskadee-1 (Block 52) are planned. Operations are supported by Surinamese shore bases, boosting local content and creating opportunities for local businesses and suppliers. In the shallow offshore area off the coast of Saramacca and Coronie, a seismic survey has began to map potential oil and gas reserves.
In 2025, production-sharing agreements were signed for Blocks 9, 10, and Block 66. The partners in Blocks 9 and 10 are PETRONAS Suriname, Chevron Suriname, QatarEnergy, and Paradise Oil Company. For Block 66 PETRONAS Suriname and Paradise Oil Company are the contact parties.
Community Investments
In 2025, Staatsolie and the Staatsolie Foundation for Community Development invested approximately US$2.7 million in corporate social responsibility initiatives. In addition, US$3 million was allocated for community projects commemorating Staatsolie’s 45th anniversary under the theme “Empowering communities and institutions.” Theprojects are implemented nationwide, with a particular emphasis on supporting disadvantaged communities.
Looking Ahead
Staatsolie enters 2026 with confidence, despite forcasts of lower global oil prices and challenging geopolitical conditions. The company is well-prepared to navigate these dynamics, backed by a robust structure, solid financialfoundation, and efficient processes. Above all, Staatsolie’s dedicated employees continue to give their best to drive continuous improvement.
Through strategic partnerships and a strong focus on growth, Staatsolie remains dedicated to creating lasting value for Suriname and its people, which aligms with with the company’s vision: “Energizing a bright future for Suriname”.
Confidence in our own abilities
