On May 15, 2026, the Annual General Meeting of Shareholders (AGM) of Staatsolie Maatschappij Suriname N.V., Suriname’s national oil and gas corporation, formally approved the company’s 2025 annual financial statements, capping off a year of solid operational performance and strategic progress for the energy giant that remains a cornerstone of the Surinamese national economy. The meeting was attended by high-level Surinamese officials including President Jennifer Geerlings-Simons and multiple cabinet ministers, where company leadership presented both the verified 2025 results and long-term growth projections for the coming years.
In 2025, Staatsolie, together with its two subsidiaries — Staatsolie Power Company Suriname N.V. (SPCS) and GOw2 — generated a total combined revenue of $832 million, with pre-tax profits reaching $444 million. The company transferred a total of $400 million to the Surinamese state in 2025, through a mix of tax payments, shareholder dividends, and royalty revenues from its gold mining participation stakes. This single contribution accounts for approximately 30% of the Surinamese government’s total annual public revenue, reinforcing the company’s status as the central pillar of the country’s economic foundation.
Operational data for 2025 shows that Staatsolie maintained consistent onshore oil output, even amid natural reservoir decline that challenges long-term production stability. Total onshore production hit 6.35 million barrels, staying nearly flat from 2024 levels and exceeding the annual production target of 6 million barrels, a result of targeted technical upgrades and optimized operational efficiency. The company’s refinery produced 3.15 million barrels of combined diesel and gasoline, and 2025 marked the launch of commercial sulfuric acid production, adding a new product stream to the refinery’s output.
On the energy front, SPCS, Staatsolie’s power subsidiary, generated 1.46 million MWh of electricity through a mix of hydropower and thermal generation. This output meets 69% of total electricity demand across Paramaribo and the surrounding districts connected to the EPAR power grid, delivering reliable, affordable energy to the region. Revenues from the company’s gold mining holdings also helped offset downward pressure from weaker global crude oil prices in 2025, keeping overall financial performance steady.
The past year also saw meaningful progress on Staatsolie’s high-stakes offshore energy development projects, which are set to transform Suriname’s energy sector in the coming years. Development work on the GranMorgu offshore oil field, located in Block 58, moved forward on schedule, with first oil production still targeted for 2028. Construction of the field’s floating production, storage, and offloading (FPSO) unit, currently underway at shipyards in China and Malaysia, is now roughly 50% complete, and all other project pre-development activities are proceeding according to the agreed timeline.
In a separate milestone, the Sloanea-1 natural gas field in Block 52 was formally declared commercially viable in 2025, marking a critical step forward for Suriname’s first-ever offshore natural gas project. A final investment decision on the project is expected to be approved in 2026. To fund its 20% participating stake in the GranMorgu development, Staatsolie successfully raised $516 million through bond issuances in 2025, and secured an additional $1.6 billion loan from a consortium of international and local financial institutions, locking in full funding for its share of the project.
Beyond energy and financial performance, Staatsolie expanded its community investment efforts in 2025, which marked the company’s 45th anniversary of operations. Working through its affiliated non-profit arm, the Staatsolie Foundation for Community Development, the company allocated $2.7 million to local social projects in 2025, and added an extra $3 million to fund sustainable development initiatives to mark its 45-year milestone.
Looking ahead, Staatsolie Chief Executive Officer Annand Jagesar expressed confidence in the company’s trajectory, noting: “Staatsolie delivered a strong year in 2025, marked by stable production, solid financial results, and meaningful progress on our strategic offshore projects that will power Suriname’s growth for decades to come.”