Suriname’s state-owned oil company, Staatsolie Maatschappij Suriname N.V., concluded 2025 with exceptional financial and operational results, demonstrating robust performance across both onshore and emerging offshore sectors. The energy enterprise successfully met all production targets while laying foundations for sustainable growth in the nation’s burgeoning oil and gas industry.
The company reported impressive financial metrics for the year, with projected revenues reaching approximately $802 million and pre-tax profits totaling $418 million. Production figures revealed 6.35 million barrels of oil extracted, exceeding established targets. The refinery operations outperformed expectations, generating 3.1 million barrels of diesel and gasoline combined. A significant milestone was achieved with the inaugural commercial production and subsequent delivery of sulfuric acid to Suralco.
Through its subsidiary Staatsolie Power Company Suriname (SPCS), the corporation supplied approximately 1.37 million MWh of electricity, accounting for 69% of power distributed through the EPAR network to Paramaribo and surrounding districts. Infrastructure development continued with GOw2’s modernization initiative, which completed two upgraded pumping stations and established a new facility in Saramacca.
Staatsolie’s contribution to national finances proved substantial, injecting an estimated $387 million into state coffers through taxes, dividends, and royalty payments. This represented approximately 32% of total government revenues and accounted for nearly 9% of Suriname’s gross domestic product.
Offshore developments marked particularly significant progress throughout 2025. The GranMorgu project in Block 58 advanced according to schedule, achieving 25% overall completion with the floating production storage and offloading (FPSO) vessel halfway constructed. First oil production remains anticipated for 2028. Additionally, the company granted commercial approval for the Sloanea-1 gas field in Block 52, representing a crucial step toward offshore gas production pending final investment decision in 2026.
To finance its 20% participation in the GranMorgu venture, Staatsolie secured over $2 billion through a successful bond issuance and international bank loan, demonstrating strong investor confidence in Suriname’s energy prospects.
The corporation maintained its commitment to social responsibility, channeling $2.7 million into community projects through the Staatsolie Foundation supplemented by an additional $3 million allocation commemorating the company’s 45th anniversary.
Despite global oil market uncertainties, Staatsolie approaches 2026 with confidence, supported by solid financial positioning, strategic partnerships, and continued dedication to creating lasting value for Suriname’s economy and society.