Suriname's hydrocarbon wealth is a key national asset, with all oil and gas resources within its territory, belonging to the state. Staatsolie plays a central role in managing these resources, holding exclusive rights to explore, extract, and develop them under the nation's legal framework.
All hydrocarbon resources existing within the territory of the Republic of Suriname, are the property of the Republic of Suriname.
By law, Staatsolie has been granted the concession rights for all hydrocarbons in Suriname. This exclusive right is established under the:
Staatsolie aims to ensure that the development of hydrocarbon resources benefits the nation and its citizens.
The diagram below provides, among other things, a summary of the current legal regime regarding the exploration and exploitation of petroleum (oil and gas) in Suriname. The legal regime consists of four instruments: the Constitution, the Mining Decree, the Petroleum Law, and the model Production Sharing Contract (PSC). These legal instruments outline how petroleum resources are owned, managed and allocated for the benefit of Suriname’s economic development. In addition to the diagram, six additional laws relevant to the petroleum sector are presented, addressing specific aspects such as taxation, royalties, environmental protection and maritime zones.
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