The managing director of the state-owned oil and energy company, Staatsolie, Annand Jagesar, is pleased with the company’s financial and production figures.
‘Our production, refining, and offshore activities are proceeding according to plan. The Gran Morgu project, with which Suriname is expected to produce 220,000 barrels of oil per day starting in 2028, is on schedule and within budget,’ Jagesar told shareholders at a meeting where Rudolf Elias was elected as the new chairman of the Supervisory Board of the state-owned company.
Elias had previously served as managing director of Staatsolie from 2014 to 2021.
According to Jagesar, the project will not only generate direct revenue through royalties and taxes but also contribute to local employment and business activity.
‘Local content development is crucial. We want Surinamese employees and businesses to actively participate in this growing sector,’ Jagesar told the shareholders.
The state-owned Communications Service Suriname (CDS) said that with the appointment of Elias, Staatsolie strengthens its strategic oversight during a crucial phase of further growth in the oil and gas sector, both onshore and offshore.
It said that the new board, together with the management, will oversee professional governance and sustainable value creation for Surinamese society.
Supervisory board member Sergio Akiemboto spoke of the importance of close cooperation between the board, management, and the state as shareholder.
‘The supervisory board represents the shareholder and safeguards the direction and vision of the State within Staatsolie. At the same time, our task is to supervise, monitor, and advise, so that the management can adequately fulfill its responsibilities,’ Akiemboto said.
‘Oil revenues must be used to strengthen other sectors, such as education, agriculture, and tourism so that we can build a resilient and diversified economy.’