Staatsolie Hydrocarbon Institute N.V. (SHI) embodies the institutional role of Staatsolie Maatschappij Suriname N.V. (Staatsolie). By executing Staatsolie’s institutional tasks and duties, we underpin its vision of energizing a bright future for Suriname. Our objective is to maximize the value from petroleum resource development for Suriname, through prudent resource management, with utmost respect for the environment, and with highest regard for safety.
We share the core values of our parent company Staatsolie.
We strive for zero harm to the planet and our people, especially the communities and the environment around us.
We are honest and do what we say we will do.
We accept responsibility, deliver high quality work with a sense of urgency.
Trust and respect each other, collaborate and create a non-blaming environment.
The 3 main tasks of Staatsolie Hydrocarbon Institute N.V. are:
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.
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:
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.
SHI is mandated to attract qualified international oil companies to sustainably explore and develop Suriname’s hydrocarbon resources. As of May 2023, there are 13 active production sharing contracts for offshore and onshore blocks.
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.
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:
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.