The state-owned oil and gas company, Staatsolie, says it is entering the new year with confidence, despite forecasts of lower global oil prices and challenging geopolitical conditions.
‘The company is well-prepared to navigate these dynamics, backed by a robust structure, solid financial foundation, and efficient processes. Above all, Staatsolie’s dedicated employees continue to give their best to drive continuous improvement.
‘Through strategic partnerships and a strong focus on growth, Staatsolie remains dedicated to creating lasting value for Suriname and its people, which aligms with with the company’s vision: ‘Energizing a bright future for Suriname,’ the company said in a statement regarding its operations this year.
Staatsolie said it achieved its production and financial targets for 2025 and that offshore developments are progressing according to plan.
The company said that for 2025, it anticipates total revenues of US$802 million, representing the consolidated performance of Staatsolie and its subsidiaries Staatsolie Power Company Suriname N.V. (SPCS) and GOw2.
‘The expected pre-tax profit amounts to US$418 million. Oil production reached 6.35 million barrels, while the refinery produced approximately 3.1 million barrels of high-quality diesel and gasoline. SPCS supplied 1.37 million megawatt hours (MWh) of electricity, covering 69percent of the energy demand for Paramaribo and surrounding districts,’ Staatsolie said.
The il and energy company said contributions to the state treasury amount to nearly US$387 million, as compared with US$384 million last year, through taxes, dividends, and royalties from Staatsolie’s participation in gold mining.
‘This represents 32 per cent of total government revenue for the year. Staatsolie’s contribution to Suriname’s Gross Domestic Product (GDP) in 2025 was about nine per cent.’
Staatsolie said that two noteworthy offshore achievements include the confirmation of commercial viability for the Sloanea-1 gas field in Block 52 and the launch of the Open-Door Offering. It said development of the GranMorgu project in Block 58 is advancing and remains on schedule.
Staatsolie said Saramacca Crude production met its goal with an estimated 6.35 million barrels, maintaining an average output of 17,400 barrels per day in 2025 due to improved techniques.
The Staatsolie refinery produced approximately 3.1 million barrels of high-quality diesel and gasoline, exceeding the target of three million barrels. The refinery marked a significant milestone in its 10-year history with the first commercial production of sulfuric acid and delivery to Suralco.
SPCS supplied 1.37 million MWh of electricity, meeting 69 per cent of the demand for Paramaribo and nearby districts connected to the so-called EPAR grid, using a mix of thermal and hydroelectric power.
GOw2 continued its multi-year plan to modernize and expand its network of fuel stations, renovating two stations, and opening a new one in Saramacca during 2025.
In 2025, Staatsolie said it focused on funding it’s 20 per cent stake in the GranMorgu project. In March, the Staatsolie bond 2025-2033 was issued, raising US$516 million, US$321 million more than previous bonds.
In May, a US$1.6 billion bank loan has been secured from 18 banks and financial institutions. Combined with reserves and operating income, these funds provide a solid base for Staatsolie’s US$2.4 billion investment in GranMorgu.
Staatsolie said that the successful bond issue and loan reflects strong national and international investor confidence.
The company said that the GranMorgu project is progressing as planned, with overall progress at 25 per cent, and the construction of the Floating Production Storage and Offloading (FPSO) ) halfway completed.
Drilling of production and injection wells, as well as subsea infrastructure installation, is scheduled to begin in 2027, with first oil expected in 2028.
In Novvember, Staatsolie approved the commercial development of the Sloanea-1 gas discovery in Block 52, marking an important step in developing Suriname’s offshore gas reserves in collaboration with PETRONAS Suriname Exploration and Production B.V.
It saif the plans include gas wells, subsea infrastructure, and a floating LNG facility, a first in the region with the final investment decision is expected in 2026, with gas production projected to start in 2030.
Staatsolie also launched the Open-Door Offering in November, opening new offshore exploration opportunities. At the same time, the GeoAtlas of Suriname detailed geological reference, was published.
Staatsolie said exploration activities continue in various offshore blocks, with seismic surveys and drilling in progress and that several wells have been drilled with others planned for the new year.
‘Operations are supported by Surinamese shore bases, boosting local content and creating opportunities for local businesses and suppliers. In the shallow offshore area off the coast of Saramacca and Coronie, a seismic survey has began to map potential oil and gas reserves,’ Staatsolie said.
The company said that in 2025, Staatsolie and the Staatsolie Foundation for Community Development invested approximately US$2.7 million in corporate social responsibility initiatives.
In addition, three million US dollars was allocated for community projects commemorating Staatsolie’s 45th anniversary under the theme ‘Empowering communities and institutions.’ The projects are implemented nationwide, with a particular emphasis on supporting disadvantaged communities, ‘ Staatsolie added.