SHI Local Content
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About SHI

On behalf of Staatsolie Maatschappij N.V., Staatsolie Hydrocarbon Institute N.V. fulfills the regulatory role of Staatsolie Maatschappij N.V. with respect to the petroleum sector. As such SHI concludes Petroleum Agreements (Production Sharing Contracts) with international oil and gas companies and oversees the petroleum operations conducted under these contracts in Suriname. The main purpose is to maximize the value of hydrocarbon resources for Suriname.

SHI has three main responsibilities:

 

 

 

 

 

1. Basin Opportunity Management

The main objective is to promote open acreage and utilize our knowledge and data to derisk petroleum operations of international oil companies.
This includes:

 

  • Evaluating the Oil & Gas potential: Study geological and other data to understand how much oil and gas could be present.

  • Promoting acreage: Market areas divided into blocks to attract companies interested in exploring.

  • Signing of Production Sharing Contracts: the rights and obligations of Staatsolie and Contractors to conduct the petroleum operations

 

 

 

2. Contract Acreage Management

SHI ensures compliance with the obligations and requirements set out in the Production Sharing Contracts, starting on the effective date until the end of the contract. 

 

This includes:

 

  • Work Programs and budgets: outline the planned activities with respective budgets for each contract period.
  • Local Content and Social Responsibility: encouraging the integration of local businesses, workforce development, and sustainable community initiatives.
  • HSE in accordance with the guidelines: All petroleum activities must be performed in a safe manner for people and the environment and in accordance with applicable and best industry standards.

 

 

 

3. Data Management

SHI is responsible for effective management of all technical data related to the hydrocarbon industry in Suriname, ensuring that this data is available for de-risking and decision-making processes in the offshore operations. The technical data includes Geological, petrophysical and geochemical data, Logs, maps, cores and cuttings, Interpretations and analytical information.

 

Responsibilities include:

  • Data Reception & Storage: Ensuring that the data is correctly received, quality controlled, organized and preserved.
  • Data Access & Delivery: Facilitating easy access to the data through online platforms and interactive tools to share data with stakeholders.
  • Data Integrity & Security: Ensuring the integrity and security of the data, by managing a robust data management system, which serves as the National Data Repository of Suriname.