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August 01, 2015 6:35 PM ET

Oil, Gas and Consumable Fuels

Company Overview of Staatsolie Maatschappij Suriname N.V.

Company Overview

Staatsolie Maatschappij Suriname N.V., an integrated oil company, engages in the exploration, drilling, production, refining, marketing, sale, and transportation of crude and refined products. The company’s crude oil is used as a feedstock in refineries. Its refined products include diesel that is used by a power generating company, river barges, and international sea-going vessels, as well as farmers, gold miners, and transportation companies in their engines, generators, and equipment; various grades of low-sulfur and low-vanadium fuel oils that are used in engines, boilers, and other industrial applications; and bitumen for use in paving projects, including roads, airports, bridges, parki...

Dr.Ir. Adhinstraat 21

Box 4069

Paramaribo,  

Suriname

Founded in 1980

Phone:

597 499649

Fax:

597 491105

Key Executives for Staatsolie Maatschappij Suriname N.V.

Acting Managing Director, Director Refining & Marketing and Member of Board of Executive
Finance Director and Member of Board of Executive Directors
Deputy Director of Business Development
Director of Exploration & Production and Member of Board of Executive
Director of Production & Development and Member of Board of Executive Directors
Compensation as of Fiscal Year 2015.

Staatsolie Maatschappij Suriname N.V. Key Developments

Staatsolie and Apache Corporation Sign PSC for Offshore Block 58

Staatsolie Maatschappij Suriname NV and American Apache Corporation have signed a production sharing contract for exploration, development and production of offshore Block 58. The agreement, with a 30 years validity, is divided in an exploration, a development and a production phase. Parties have agreed to a minimum working program for the exploration period during which geological surveys, seismic data gathering and exploration drilling are scheduled. All costs during the exploration phase will be covered by Apache and must only be redeemed by Staatsolie in case Apache makes a commercially recoverable find and commences production. The contract offers Staatsolie a maximum stake of 20% for participation in the development and production phase. Block 58 is located approximately 200 kilometers north west off the coast of Paramaribo, in water depths of 55 to 2,250 meters. Staatsolie has 2,245 kilometers of 2D seismic data available of the 5,830 sq. kilometers block. Block 58 was offered during the 2014/2015 international bidding round. The contract specifically addresses the issues of inspection, safety and environment. It also specifies about employment for locals, training courses, social programs and dismantling when the operations are concluded.

Similar Private Companies By Industry

Company Name Region
Maersk Oil Suriname B.V Americas
Staatsolie Maatschappij Suriname N.V. Americas

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