Opportunities in the Oil Industry
‘’With an estimated resource potential of 13.6 Billion barrels (P50), the United States Geological Survey (USGS 2012) ranks the Guyana-Suriname Basin 2nd in the world for prospectivity among the world’s unexplored basins and 12th for oil among all the world’s basins – explored and unexplored’’.
’The state-owned oil company, Staatsolie, holds sole rights to exploit fossil fuels in Suriname. To increase capacity, Staatsolie enters into production and exploration partnership agreements with foreign companies. For the past 35 years, Staatsolie has produced 109 Million barrels of crude oil onshore Suriname. Yet, offshore Suriname is virtually under-explored, with 26 exploration wells drilled in an area of approximately 130,000 km2, of which only 14 wells are drilled beyond water depths of 20m.’’ ‘’With a proven petroleum system in place, a variety of promising plays and a substantial amount of available data, the Guyana-Suriname Basin has all the ingredients to become your next major oil province.’’
‘’Several U.S. firms are now involved in offshore exploration. Some of the biggest players are: California’s Chevron, Houston-based Apache Corporation and Dallas-based Kosmos Energy, as are Norway’s StatOil and Britain’s Tullow Oil, who are implementing a joint off-shore exploration project, among others.’’
Total crude oil production in 2017 remained at the same level as 2016, six million barrels with an average production of 16,300 barrels per day. According to estimates from the Central Bank, domestic oil consumption averages approximately 14,000 barrels a day.
Staatsolie constantly strives to building relationships with the best suppliers. We look for suppliers based on sustainability, compliance, quality, on-time delivery and total cost. We have a selective bidding process based on which a selected number of suppliers are invited to bid on the purchase of certain goods and/or services.
The purchases of goods and services are centralized within the Procurement Division of Staatsolie in accordance with its Purchasing Policy & Procedures (PPP).
While doing business with Staatsolie, all suppliers should comply with the purchase and payment guidelines, Staatsolie’s Code of Conduct and Staatsolie’s general terms and conditions. Scroll down for the links to these documents.
Enough reasons why you should invest in Suriname !
Suriname has an established petroleum system in place and everything needed to develop into the next major oil province.