About us

We are one of the leading companies in our country. Staatsolie is located in Suriname, the hidden treasure of South America. We passionately contribute to the advancement of Suriname. And do so by developing exploration activities, producing and refining crude oil to high-quality products, and providing local and international markets with these products.

Staatsolie’s Vision 2030 is geared towards a sustainable energy future for Suriname and making a strong contribution to the advancement of our society. This Vision represents the spirit and energy of Staatsolie’s successful history of development, growth and its distinctive value-based performance culture. Eventually we want to become a regional player with a global identity in the energy market.

Our vision

  • We lead the sustainable development of Suriname’s energy industry.
  • We make a strong contribution to the advancement of our society.
  • We are a regional player with a global identity in the energy market.

Our Mission

  • Develop Suriname’s hydrocarbon potential over the full value chain, to generate electricity, and to develop renewable sustainable energy resources.
  • Secure the energy supply of Suriname and to establish a solid position in the regional market.
  • Expand our reputation based on our growth performance, flexibility and corporate social responsibility.


We put health and safety first, strive for zero harm to our people and the communities around us, and minimize negative impacts upon the environment.


We are honest and do what we say we will do.


We create a supportive and collaborative environment, respect each other, are open to other’s ideas and facilitate personal and professional growth.


We set high standards for quality, strive to exceed expectations and do our work with a sense of urgency.


We accept responsibility for our job and actions, are co-operative, and create a non-blaming environment

Being accountable for people and the environment is one of our core values. It is important to us that no harm is done to the environment and the community. We demonstrate our corporate citizenship, also through the Staatsolie Foundation for Community Development Foundation, by supporting initiatives that improve the health, education and development of the population of Suriname. Since 2017, we have been emphasizing close cooperation with the communities in areas where we operate. To this end there is regular contact with the communities and representatives of the local government.

Before we develop activities in new areas, the possible environmental and social impacts are assessed. These environmental and social impact assessments (ESIAs) are done by external experts. The ESIA report proposes mitigation measures to manage possible effects on the environment and communities.

Code of conduct

We wants our core values ​ 'integrity' and 'accountability' to be lived by all our employees. A code of conduct has been established to give direction to this behavior. This code should ensure that our reputation and integrity will be protected.

EITI support statement

Staatsolie Maatschappij Suriname N.V. is a Supporting Company of the Extractive Industries Transparency Initiative (EITI). As the National Oil Company of Suriname, Staatsolie is commited to transparency and to supporting the activities of the Extractive Industries Transparency Initiative (EITI). Staatsolie has actively participated in the process led by the government of Suriname in becoming a candidate country, as of 24 May 2017, and is a primary member of the Multi-Stakeholder Group responsible for implementing the EITI in Suriname. By supporting EITI, we commit to encourage initiatives for transparency of revenues related to natural resource extraction, reduction in poverty and progress in the fight against corruption.

For more information on EITI, please visit the website.

Staatsolie demonstrates a firm commitment to Health, Safety, Environment & Quality (HSEQ) by effectively using an integrated management system, through which we continuously:

  • Comply with relevant laws and legislation, and Staatsolie’s requirements, while taking the needs of our stakeholders into account.
  • Identify risks, determine mitigating measures, and apply these measures to our work in order to prevent incidents and damage to the environment.
  • Hold all employees and contractors accountable to follow Staatsolie’s HSEQ requirements, in order to achieve excellent performance with zero harm.
  • Continually improve our management system by enhancing processes, services, and our product quality through the setting of explicit performance objectives.
  • Involve all employees and contractors in the decision-making processes of our HSEQ management system.

February 2018

Rudolf Elias
Managing Director

Our history

Traces of oil have been found in the Nickerie district in the late twenties of the previous century. It is only forty years later, before oil is really found in the Saramacca district. And it takes another twenty years before a national oil industry is starting to develop. 

Our story

Staatsolie is established on 13 December 1980 (Articles of Association), which was a big step in the development of the Surinamese oil industry. After a successful exploration and production test program, commercial production started on 25 November 1982. From that moment on Staatsolie achieves one milestone after the other. 


While drilling for water on a school yard in Calcutta (Saramacca), oil is struck at a depth of 160 meters.



In May the government appoints the Oil Commission, chaired by geologist Eduard ‘Eddie’ Jharap.



Commercial oil production starts on 25 November in the Tambaredjo oil field in Saramacca. The production starts at 200 barrels a day. 

With a loan secured from a consortium of local banks, Staatsolie sets up production facilities and infrastructure at Catharina Sophia (Saramacca), and purchases its first oil tanker.


The first rotational pump ('moyno') is installed. This type of pump replaces the pump jack.


  • In December, for the first time we supply Saramacca Crude to the Suriname Aluminium Company (Suralco). The crude is used as fuel to generate thermal process energy for the production of alumina.
  • The first rotational pump ('moyno') is installed. This type of pump replaces the pump jack.


  • A new contract is signed with Gulf Oil Company for offshore exploration.
  • We buy our second tanker, the Staatsolie II.
  • Crude production reaches a level of 1,000 barrels a day.


  • First export of Saramacca Crude to Trinidad and Tobago.




Construction of the underground pipeline from Saramacca to Tout Lui Faut commences in January. The line becomes operational in August


In February President Ronald Venetiaan gives the starting signal for construction of the refinery. That same day the company signed a US$ 36 million loan contract with a consortium of banks consisting of ABN-AMRO Bank and EFAG Bank (a subsidiary of the Swiss ABB concern). ABB Lummus Global from the Netherlands is awarded the contract for building the refinery.


In July Staatsolie commences drilling of production wells in the Tambaredjo.


The refinery is officially operational.

The production is 8000 barrels per day. 


On June 4th Managing Director Eddie Jharap is fired by the sole shareholder (the Republic of Suriname), for opposing the selling of Staatsolie to Korean investor Daewoo. Jharap takes to court and wins his case on June 29th. His unfair dismissal is then reversed.


Start for the construction of a 22 kilometers pipeline from the refinery at Tout Lui Faut to Suriname Aluminum Company (Suralco) at Paranam.


By securing 30% of the shares, Staatsolie becomes co-owner of Ventrin Petroleum Company Limited, a Trinidadian bunkering firm supplying services to the ships at Point Lisas and other ports in Trinidad & Tobago.


In December Staatsolie commemorates its 25th birthday. Among others a monument at the Staatsolie headquarters is unveiled and a commemorative book is published,


Also, Managing Director Eddie Jharap is bestowed the highest national award and received the big ribbon in the honorary order of the Yellow Star.


The supervisory board appoints Marc Waaldijk as Managing Director in February


The Calcutta oil field is put into production.


Ronald Venetiaan inaugurates the Staatsolie Power Company Suriname in August.


The 1,000th well is put into production in the Tambaredjo field.


The Staatsolie Foundation for Community Development was founded in February. The organization carries out sustainable projects to serve the Surinamese society.


The polymer injection project installations are officially made operational in October. By injecting the polymer in the oil reservoir, oil is driven towards nearby production wells, resulting in more oil being produced by the reservoir.


The ethanol pilot project commences in December in Wageningen Nickerie. Thirteen sugar cane varieties are tested to determine the one suitable for producing bio fuel.


Staatsolie acquires the Chevron/Texaco operations in Suriname.


After 40 years the Texaco brand is replaced by GOw2. In December the gas station at the Van ’t Hogerhuysstraat receives the colors, the logo and the furnishing of the new GOw2 identity.


On 22 July Staatsolie produces the 100 millionth barrel of oil, over 30 years after the first barrel was pumped up from the Tambaredjo field on 25 November 1982.


After two years of preparations, the capacity of the Staatsolie Power Company Suriname (SPCS) is expanded to 62 megawatt. On 28 February, the expanded thermal power station is officially in operation.

Social Impact

We support, also through the Staatsolie Foundation for Community Development, initiatives that improve the health, education and development of the people of Suriname. 

From left to right: Gonda Asadang, Member; Mark Rommy, Member; Etienne Boerenveen, Chairman; Ewald Poetisi, Member; Irene Tholen, Secretary.


We have been responding to the needs of Surinamese and the region for oil products for almost 40 years. Through our subsidiaries we are able to better serve our customers. Our business processes comply with ISO 9001:2015 quality management standards. We implement national and international industry standards and best practices in order to maintain a safe and healthy work environment, also at our subsidiaries. 

We also have a 25% stake in the Merian Gold Mine of Newmont Suriname

Click on the logo and read more info on the subsidiary here below.