We are the custodians of the oil and gas sector in Suriname

Staatsolie Hydrocarbon Institute N.V. (SHI) embodies the institutional role of Staatsolie Maatschappij Suriname N.V. (Staatsolie), creating the right conditions for investments and supervises the hydrocarbon activities by independent oil companies in Suriname, in order to optimize the value from petroleum activities for Suriname. 

Initially Staatsolie was established in 1980 as a state vehicle to execute the Government’s oil policy. That policy stipulates that foreign oil companies can only explore for and eventually produce oil through service contracts with Staatsolie.

The first task was to monitor the operations of Gulf Oil that had an agreement to execute petroleum operations offshore Suriname. At the same time our first CEO, Eddie Jharap took the action to exploit the oil accumulations in Saramacca, onshore Suriname. And it is this policy that has stood the test of time, enabling Staatsolie to gain extensive knowledge and experience through the decades, becoming a top quartile operator both in terms of exploitation and cost efficiency.

By the year 2000, with growing interest in the offshore of Suriname, the strategic decision was taken to also develop the regulator's role which led to the set-up of the Petroleum Contracts division. The anticipation of an imminent significant hydrocarbon discovery prompted the need to further progress the development of this role for the now burgeoning oil and gas industry in Suriname.

This eventually led to the establishment of a separate subsidiary, Staatsolie Hydrocarbon Institute N.V. (SHI) in 2020.

Our Vision
To become a world-class hydrocarbon institute for the sustainable development of the petroleum industry in Suriname.

Our Mission
Maximize the economic benefit for Suriname by regulating, influencing and promoting the sustainable development of the hydrocarbon industry in adherence to world-class standards and practices.  

Our Values
We share the core values of our parent company Staatsolie.

HSEC FOCUSED
We put health and safety first, strive for zero harm to our people and the communities around us, and minimize negative impacts upon the environment.
INTEGRITY
We are honest and do what we say we will do.
PEOPLE FOCUSED
We create a supportive and collaborative environment, respect each other, are open to other’s ideas and facilitate personal and professional growth.
EXCELLENCE
We set high standards for quality, strive to exceed expectations and do our work with a sense of urgency.
ACCOUNTABILITY
We accept responsibility for our job and actions, are co-operative, and create a non-blaming environment.

Within the embodiment of the institutional task of Staatsolie, our core tasks are:

  1. Production Sharing Contract Management
    Contract management includes negotiating the terms and conditions in Production Sharing Contracts (PSCs) and ensuring compliance with the terms and conditions, as well as documenting and agreeing on any changes or amendments that may arise during the implementation or execution. The contract management process is all for the purpose of monitoring and maximizing financial and operational performance and minimizing risk.
  2. Policies, procedures and guidelines
    Develop, implement and uphold policies, procedures and guidelines of world class standards to ensure transparent, prudent, efficient, cost-effective, safe and environmentally sound execution of hydrocarbon activities.
  3. Acreage Management
    SHI performs hydrocarbon resource assessment to determine the acreage strategy to drive the direction of hydrocarbon resource development, and to promote the hydrocarbon potential and to negotiate with capable and competent investors to explore and potentially develop hydrocarbon accumulations.
  4. Data Management
    SHI is the custodian of all data, and develop a robust and secure centralized Data Management System to:
    • unitize, centralize and optimize data storage, management and distribution.
    • improve information quality, coherence, consistency, transparency.
    • help unlock significant potential across the oil and gas lifecycle.

 

 

With the significant hydrocarbon discoveries and therefore the now burgeoning petroleum industry in Suriname, we want to seize the opportunity to play a part in increasing the awareness of Local Content related potential.

To this end Staatsolie commissioned Development Alternatives Incorporated, DAI, to carry out an Industrial Baseline Study to assess the preparedness of the Surinamese private sector under the conditions of a potential supply and demand landscape and the challenges and opportunities that lay ahead.

The study highlights insights into the roles of different stakeholders and which possible strategies and actions could mitigate gaps and what kind of investments would be required to partake in the petroleum sector developments.

Potential suppliers who want to be informed on the developments within the offshore petroleum sector can register on the Supplier Registration Portal (SRP). For questions related to the SRP visit the Frequently Asked Questions section.

Download: Industrial Baseline Study Findings Presentation (Nov 2018)  

All petroleum ventures in Suriname are covered by a Production Sharing Contract (PSC), because the PSC allows investor participation while retaining national ownership of shares of petroleum produced. The additional benefits are: 

  • Low risk for host country 
  • Knowledge transfer from IOC to host country 
  • Optimal cost recovery strategy for stakeholders 

Through PSCs the host government awards the execution of exploration and production activities to an oil company. The oil company bears the mineral and financial risk of the initiative and explores, develops and ultimately produces the field as required. When successful, the company is permitted to use the money from produced oil to recover capital and operational expenditures, known as "cost oil". The remaining money is known as "profit oil", and is split between the government and the company. 

By virtue of the Mining Decree (Official Gazette 1986, no 28) concession rights for petroleum activities are granted exclusively to state enterprises. According to the Petroleum Law (Official Gazette 1991, no 7), state enterprises with petroleum concession rights, are authorized to enter into petroleum agreements with other established petroleum companies.  

Our model PSC is publicly available. Download the State Decree Royalty Offshore

SHI is mandated to attract qualified international oil companies to sustainably explore and develop Suriname’s hydrocarbon resources. As of January 2022, there are 10 active production sharing contracts for offshore and onshore blocks.

Effective Year Area  Block  Operator Partner(s) PSC Status  Well Aliase Well Name Spud Total Depth (MD)
1957 Onshore  N/A Colmar Surinam Oil Company    Relinquished        
1993 Offshore Contract Area Pecten Suriname Ltd    Relinquished        
1999 Offshore  Inboard and Outboard area  Burlington Resources Suriname Ltd Shell EP Suriname B.V. Relinquished        
        Totalfina Exploration Suriname          
        Korea National Oil Corporation          
2000 Onshore  Wayambo Koch Exploration International B.V.   Relinquished        
2004 Offshore 30 Repsol Exploracion, S.A   Relinquished (2012) WT-1 West Tapir-1 2008 4080m
2004 Offshore 31 Maersk Oil Suriname B.V.   Relinquished (2016) AKT-1ST2 Aitkantie-1(ST2) 2011 5483m
            Spari-1ST1 Spari-1(ST1) 2015 3830m
2005 Offshore  32 Occidental of Suriname LLC   Relinquished (2009)        
2007 Onshore  Uitkijk  Paradise Oil Company N.V. (Staatsolie) Hardman Oil and Gas PTY Ltd Relinquished (2016)        
2007 Onshore  Coronie Paradise Oil Company N.V. (Staatsolie) Hardman Oil and Gas PTY Ltd Relinquished (2015)        
2007 Offshore  37 Murphy Suriname Oil Company Ltd   Relinquished (2012) CRC-1 Caracara-1 2010 2705m
            ARC-1 Aracari-1 2011 2450m
2010 Offshore  47 Tullow Suriname B.V. Petroandina Resources Corporation N.V. Relinquished (2021) GVN-1* Goliath-Voltzberg North-1 2021 5060m
        Ratio Suriname Limited          
2011 Offshore  42 KE Suriname B.V.   (Shell) Hess Suriname Exploration Limited Active  PON-1* Pontoenoe-1 2018 6194m
        Chevron Suriname Exploration Limited          
2011 Offshore 45 Kosmos Energy Suriname Chevron Suriname Exploration Limited Relinquished (2020) ANA-1(A) Anapai-1(A) 2018 3577m
2012 Offshore  48 Petronas Suriname E&P B.V.   Active         
2013 Offshore  52 Petronas Suriname E&P B.V. ExxonMobil Exploration and Production Suriname B.V. Active  RS-1X* Roselle-1 2016 4908m
            SLO-1* Sloanea-1 2020 4780m
2013 Offshore  53 APA Suriname Corporation LDC Cepsa Suriname S.L.

Active  POP-1* Popokai-1 2015 7200m
        Petronas Suriname E&P BV   KOL-1* Kolibrie-1 2017 5212m
2014 Offshore  54 Tullow Oil Suriname B.V.   Relinquished (2021) ARA-1* Araku-1 2017 2685m
2015 Offshore  58 Total E&P Suriname B.V. APA Suriname 58 Corporation LDC Active  MKC-1* Maka Central-1 2019 6285m
            SPW-1*  Sapakara West-1 2020 6326m
            KWA-1* Kwaskwasi-1 2020 6644m
            KEE-1* Keskesi East-1 2020 6675m
            SPW-2* Sapakara West-2 2021 -
            SPS-1* Sapakara South-1 2021 -
            KES-1* Keskesi South-1 2021 -
            BNB-1* Bonboni-1 2021 -
            KBD-1* Krabdagu-1 2021 5273m
2018 Offshore  59 ExxonMobil Exploration and Production Suriname B.V. Hess (Suriname II) Exploration Limited Active         
        Equinor Suriname B59 B.V.          
2018 Offshore 60 Equinor Suriname B60 B.V.   Relinquished (2020)        
2018 Offshore  61 Capricorn Suriname B.V.   Active         
2018 Offshore  62 Tullow Suriname B.V. Petroandina Resources Corporation N.V. Relinquished (2021)        
2019 Onshore  Nickerie Decker Petroleum and Marketing Co. Ltd.   Active         
2019 Onshore  Weg naar Zee Challenger Energy Group PLC   Active         
2021 Offshore  5 Chevron Suriname Exploration Limited Paradise Oil Company N.V. (Staatsolie) Active         
        KE Suriname B.V. (Shell)          
2022 Offshore 7 Chevron Suriname Exploration Limited Paradise Oil Company N.V. (Staatsolie) Active        
PSC Overview per 8 March 2022 | * Confidential wells

The Guiana Basin is a sedimentary basin encompassing the coastal area of French Guiana, Suriname, Guyana and the eastern part of Venezuela (Antillean Arch). Most of the Guyana-Suriname Basin lies offshore, where the sediment package becomes thicker as the basin grows deeper. The outcrop of crystalline Proterozoic basement, the Guiana Shield, marks the southern limit.

Commercial production is for the time being only in the onshore Tambaredjo, Calcutta and Tambaredjo Northwest Fields in Suriname, with an original STOIIP of 1 Billion barrels. These fields are currently producing approximately 16,000 BOPD. Staatsolie has been, for the last 40 years, the sole operator of these fields.

  1. Basin Evolution
    - Pre-Rift Basin Structures 
    - Central Atlantic (CA) Rift Phase
    - Equatorial Atlantic (EA) Rift Phase
    - Equatorial Atlantic (EA) Post-Rift Phase
  2. Geological Framework
    - Geology of Onshore Suriname
    - Basin Architecture
    - Petroleum Geology
  3. Petroleum Systems
    - CANJE Formation
    - Inferred Jurassic Source Rock

SHI has collated the vast amount of non-proprietary geological and geophysical data that have been gathered and processed throughout the decades in structured data packages. We are pleased to offer these data packages to competent oil and gas companies to conduct independent evaluations in order to assess the geology and hydrocarbon potential of the Suriname-Guyana Basin. View our data packages here.

If any interested party wishes to purchase any of the data packages or have any inqueries, please send us an email indicating which data package is desired along with any inqueries. Include the following information in your email:

  • General company information
  • Contact details of company representative

Once the request has been processed, SHI will submit a confidentiality agreement (CA) for signature. After the CA has been signed by both parties, we will invoice the interested party and only release the data package upon confirmation of payment.

Social Responsibility Projects from Production Sharing Contracts

Read the 2021 report here

Local Content Service Forum (4 March 2021)

Here you can find the recordings from the presentations by officials from Total Exploration and Production Suriname B.V. at the Local Content Service Forum on 4 March 2021, the presentation slides, and the FAQ.

Read more
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